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How to write a successful photography business plan.

Whether you want to know how to start a photography business or take your existing one to the next level, the best place to start is with a plan. A photography business plan is a document that outlines what you hope to accomplish with your business. 

As your business comes to life or goes through change, you can use a business plan to measure your progress and re-calibrate your professional goals. In addition, if you are planning to pitch your business to potential investors for brand partnership opportunities, a business plan is one of the documents you can use to help bring credibility to your business.

However, learning how to start a photography business the right way doesn’t have to be overwhelming. Taking the right steps to showcase your photography services beyond your online portfolio website can set you off on the right foot and continuously help you attract the caliber of clients you want.

Why you need to make a photography business plan. 

Running a small business is hard. You may have heard the lifespan statistic that 20% of small businesses fail in their first 2 years, 30% fail in their first 3 years, and 50% fail after operating for 5 years. While this number is discouraging, the number one reason for the small business mortality rate is the lack of financial planning.

This is why using available tools is essential to your business’s long-term success and to your ability to grow your business. A business plan is critical in keeping you on track with your business goals and identifying where your business is lagging before, during, and after growth.

The main components of a photography business plan.

While you can customize the components of a photography business plan to suit your needs, the standard components are:

• Executive summary
• Business description
• Product or service portfolio
• Target market
• Competitive landscape 
• Marketing approach
• Operations & logistics

These elements work together to provide you and your possible stakeholders with a fulsome portrait of your business and its potential. We will go into further detail about these individual components in the following sections.

Write an executive summary.

The executive summary is a 50-250 word section at the start of your photography business plan that focuses on big-picture goals and outcomes of your company. This section summarizes the entirety of the document and should serve as the “elevator pitch” for your company, and its unique position to succeed. A good question to ask when compiling your executive summary is, “What are 3-5 things I want my clients to remember me by?”

Some of the elements to include in your executive summary are your experience, your specialties (ex. commercial photography , landscape , or wedding photography ), and key components of your business that contribute to your success, such as your marketing efforts or a unique angle you bring to the industry.

Explain your company in a business description.

While you may have a clear vision for your business inside your head, being able to succinctly express it to clients and stakeholders is key to your professional success. When compiling your description, it’s important to be as specific as possible.

First, learn about different organizational structures and the associated terms that come with the territory. Are you running a sole proprietorship, partnership, an incorporated company, or another type of business?

Second, your business description should also outline additional details including the history of your business. It gives possible stakeholders an idea of what your business is about and how it began.

In addition, you want to share your business’ mission statement. Because you will go into more details about the offerings and other aspects of your business, it’s best to keep your company description simple and provide only a high-level overview.

Describe your product and services.

This is the place to talk about the types of photography services and products you offer, and the ones you plan on expanding into in the near future. 

As part of your product and services description, provide a comprehensive pricing model. Your pricing model should cover the types of sessions, services (shooting, editing, formatting) you offer, and their associated fees. For example, do you offer mini photography sessions or 2-hour shoots? Is there a sliding scale for editing services, color correction, or airbrushing? Do you handle the physical production of photos, or is the handoff done digitally?

A competent photography business relies on the client’s clear understanding of your “menu” of skills and services.

Lastly, detail the types of services you offer and the types of products you want to focus on that bring you the most income.

Determine your target market.

Targeting your customers is no simple task, as small business owners want to serve everyone. Nevertheless, it helps you to focus on your customers who need your products. You’ll end up wasting money marketing your product to people who don’t need it or have any interest in it.

Understanding your target audience means researching your local market to identify where demand exists. You can search forums and Facebook groups to see what kinds of photographers people are hiring and how much they’re willing to pay. 

For example, a professional wedding photographer should join relevant local event planning and vendor groups on social media to build connections and promote their wedding photography services. Keep in mind that a wedding photographer often has to travel to a location to shoot the wedding, and make sure to factor it into your project estimates. 

While a target audience looks different for everyone, it’s important for your photography business to have a few areas of specialty that help build up credibility and steadily bring in clients.

Conduct a competitive analysis.

As you conduct research on your local market, you will start to discover there are a number of different photographers that offer similar services as you. To create a thorough competitive analysis, take the list of competitors, and evaluate them in different areas. Conducting this analysis will help you determine what sets yours apart.

When looking at your competitors, consider the following questions:

• Are my product offering and pricing model as straightforward as theirs?
• What is their tone of voice (ex. humorous/expert/familial)?
• Who is their target audience?
• What do they bring to the table that I do not, and vice versa?
• How can I differentiate myself from them?

To help you understand how your business is perceived, you can seek the help of a brand marketing professional. To take a more DIY approach, you can send your portfolio website to a roundtable of friends and colleagues and ask them how they would describe your business. Collecting these adjectives and looking for common threads can help you understand how your business is perceived and use these findings to your advantage in your marketing efforts.

Conducting a thorough competitive analysis can help you determine your own competitive edge and stay abreast of the competition. As a best practice, get into the habit of conducting a competitive analysis on an annual basis to stay informed about how your industry and your local market evolve over time.

Detail your marketing strategies.

In marketing, there is a saying that goes, “hope is not a strategy.” Yet many organizations allow an “if you build it, they will come” mentality to drive clients toward their marketing efforts.

In reality, a continuous funnel of new and repeat customers is what ensures their long-term success. This is why continuous marketing efforts are the number one way to ensure a consistent workload. Your marketing should work in tandem with a greater marketing plan that aligns all your efforts.

Because stakeholders and investors know the importance of marketing, they will look for a comprehensive and proactive marketing strategy when evaluating your business plan. This is why it’s important to outline the various marketing mechanisms you plan to use in your marketing plan.

Your marketing strategies encompass your marketing programs and your photography portfolio. 

Marketing programs.

Marketing programs mean any platforms, channels, or mechanisms you use to promote your company and attract customers. These may include email marketing campaigns, direct mail initiatives, local photography directory memberships, trade shows, your social media presence, and any paid social media advertising campaigns.

Photography portfolio.

Your online photography portfolio is an essential part of your marketing toolkit. After you make your potential customers aware of your business with your marketing programs, they will seek out a digital presence to explore your abilities as a photographer and to see if there is a fit. A portfolio experience can make or break a client lead, which is why it’s important to invest in a portfolio website that represents the unique offering your photography brings to the world. You can learn how to build a portfolio website the right way with our helpful guide.

Think about operations. 

While service businesses like photographers traditionally have fewer logistics than brick-and-mortar ones, it’s still important to consider the day-to-day logistics and expenses when compiling your business plan.

The operations portion of your photography business can include details like information about where you conduct work.  Many photographers choose to conduct business out of a home studio or office, holding a majority of their sessions at outdoor locations, client homes, and occasionally utilizing a professional studio. Meanwhile, commercial photographers almost always rely on a professional studio to conduct their business. 

Because different types of photographers have different operational needs, stakeholders will look for this information in your business plan to help assess the overhead cost of the operations. Understanding your operations also helps you to plan for potential opportunities in the future.

Draft your financial plans. 

This portion of your photography business plan is important to understanding the overall factors in the cash flow of your venture. Cash flow refers to the amount of money going in and out of your business. 

While compiling this section of your business plan may take the most time, it’s important to get it right to have an accurate understanding of the amount of money it takes to run your photography business, and which investments (ex. new lenses or editing software) are feasible within your business profits.

If you are a new business owner getting into photography, this section of the plan is where you outline the equipment you hope to invest in and what types of services it will be used for. Consider that as a professional photographer, you may need to invest in two copies of every item in case of malfunction. Some photographers, who may be just starting out, may use rental equipment to help them offset the costs of duplicates. However, the cost of renting can add up, which is why purchasing may be the cheaper option in the long run.

As a photographer, you are investing in hardware and software that is imperative to your job. To protect yourself, consider insuring your photography equipment and professional computer in case of theft. You can outline your insurance policy coverage and its cost in the financial portion of your plan. 

Create a timeline.

For photographers, a timeline is a management tool that helps you keep your business goals on track. Some of the key activities to include in your timeline are marketing, financial, investing, and operational in nature. 

In your timeline, consider setting goals for when you expect to pay back for the items listed in the financial portion of your plan. Calculating how many completed photography sessions it would take to cover the cost of the item can help you calculate this date.

It’s important to remember that timelines don’t need to be complicated. You can simply write down the task and the date by which you hope to complete it in sequential order. To help you stay on track, you can put reminders in your email calendar that notify you when you are nearing the anticipated completion of a task, as well as your personal deadline for its completion.

Putting your photography business plan together.

Compiling a photography business plan is an important step in starting your business and in evolving an existing one. While our photography business plan outline contains all the elements to run a successful photography business, there is nothing like drawing inspiration from what’s out there. A tried and tested photography business plan sample can give you the guidance you need to brainstorm the ins and outs of your business.

While all photography business plans are slightly different, most professional photography business plans are clear about their vision and how they want to get there. We’ve collected sample photography business plans from some of the best and most successful photographers in the industry and made readily editable templates for a fast and comprehensive photography business plan.

If you are just starting with your venture and feel a little lost, be sure to check out startup costs for your photography business and three business questions new photographers often ask . These guides give you the important information you need to get started on turning your photography dream into a viable business.

Photography business plan examples.

A sound business plan will set you on the path to success as a photographer. Whether you are a studio photographer, wedding photographer, or anything in between, these industry-specific photography business plan examples will help you kickstart your career.

Photography studio business plan.

If you run a photography studio, the most important element of your business plan is the photography business description. This segment in your photography studio business plan consists of a thorough description of all of the activities you engage in and the services you offer.

By keeping a detailed checklist, you can be clearer with your clients about the studio photography services you offer and market your business accordingly. Our guide to photography marketing shows you how to attract new clients the right way, without spending a dime.

Wedding photography business plan.

Creating a wedding photography business plan is a crucial step in better understanding your market and the opportunities you can leverage with your skills and experience. If there are any specific photography services you offer that other wedding competitors don’t, make sure to include them in your business plan.

If you are looking for a place to start, a simple Google search will provide you with a range of wedding photography business plan samples to work from, which can be tailored specifically to your business.

Now that you are armed with your photography business plan, you can attract better clients and be prepared for the future with a firm grasp of your competitive edge and industry shifts. Don’t forget that along with a solid business plan you need a beautiful website portfolio to show off your work and start getting clients.

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Contributor

Cheryl is the Director of Content Strategy at Zenfolio and the Owner/Photographer at Portraits by Cheryl and Seniors by Cheryl in Raleigh, NC. Cheryl has mentored countless new photographers looking to build successful photography businesses.

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10 Key Steps for Writing Your Photography Business Plan

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A surprising number of photographers never write a photography business plan. If you plan to embark on a career as a freelancer, you need a plan. A business plan is a road map to success. It outlines your business-related goals and how you intend to achieve them. There is no need to have a very formal business plan. But the components of a traditional business plan can help you be more specific about your goals. This way, you are more likely to achieve them.

The Components of a Photography Business Plan

Create an executive summary.

The Executive Summary is where you define your photography business . What will be the legal structure of your business? Will you be operating as a sole proprietor? This is an overview of your business. It lays out how your business will meet the needs of your target clients. It’s helpful to write out a mission statement for your photography business. You should have tangible objectives and the keys to success.

Write a Product and Service Description

Consider Your Target Market

Assess the Competition

Develop Key Marketing Strategies

Consider Your Operations Strategy

Plan the Financials

SWOT Analysis

Make a Timeline

Preparation and goal setting are crucial to success in any business. A plan for your photography business can make all the difference. Start today by working on your photography business plan. If you can set aside 30 to 60 minutes a day, you’ll finish before you know it. And then you’ll be far ahead of most photographers, who have no plan whatsoever! Now you’ve worked out how to make your business plan, check out our posts on how to price your photography services or use social media marketing next!

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Step-by-step guide on how to write a strong photography business plan

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This article was updated on December 2, 2022

Starting a successful photography business involves more than having a camera and a keen eye for beauty. As a business owner, you must also have a solid business plan.

Without one, your professional photography business may have no legs (or tripods) to stand on. 

Creating a photography business plan is simple. This complete guide will cover all you need to know about writing a comprehensive business plan—from executive summaries to competitive analyses. 

What to include in a photography business plan:

• Write an executive summary
• Describe your photography business
• Outline your products and services
• Analyze your finances and list out business expenses
• Understand your competition and the photography industry
• Devise a sales and marketing strategy
• Set operations logistics and management structure
• Perform customer and market analysis
• Establish a timeline and exit strategy
• Round out your business plan with Nextdoor

1. Write an executive summary

Perhaps you’ve been dreaming of running your own photography business since the day you picked up your first disposable camera, or maybe you just started outlining your vision in recent months. Whatever the case may be, you’ll need to match those dreams with quantifiable business goals and a clear course of action. 

Defining your mission is one of the most important aspects of a strong business plan and almost always comprises the first section. In the executive summary, you will explain your business details such as your business name, and a summary of your business plan in a few sentences.

When defining your business as a professional photographer, it’s crucial to cover two key components: the executive summary and the business description.

2. Describe your photography business

Following the executive summary, the business description section is the place where you'll describe the ins and outs of your business.

Effective photography business descriptions usually contain the following information:

• A history of your business
• An overview of your business structure

Let's break down these two essential components further.

As a professional photographer, your business's history is more than just a summary of facts. It's your unique story . Your passion for what you do should come through in every line.

Include life and color into your business plan by detailing the following:

• Your personal relationship with photography
• Your professional work experience
• The origins of your business and the values you intend to uphold

Describing your history with photography not only gives potential stakeholders an inside look at your motivations but also gives you an outline for an "About" section on your future website.

REAL BUSINESS EXAMPLE: Johnson City, Tennessee's Hunter Kittrell Photography is a business that knows the power of storytelling. Their website's "About" section mentions how the business's founder, Hunter Kittrell, got his start in photography after college and how his love of adventure inspires his work. Look to this small business as a model for your own and add in all of your business's unique details to compel potential clients to work with you.

Business structure

Few business descriptions are complete without an outline of the business structure. To define your business structure, consider the following:

• Type - Is your business a sole proprietorship or an LLC? A partnership or corporation? If you're just starting out, there's a good chance your photography business will be a sole proprietorship. However, if you're thinking of future growth (and outside funding), it may be wise to consider an LLC. Whichever business type you choose, providing this information in your business plan will help you think through the management and other logistical structures.
• Management and business operations - Most U.S. photography businesses have less than two employees . However, if you're planning on employing more people and/or having a detailed managerial structure, it may be wise to include this in your business description. Furthermore, it may be helpful to include details about business hours and studio location(s).

While businesses, especially startups, can experience a number of operational changes during the first couple of years, outlining your initial business structure is a smart way to set up your photography business for continued success.

3. Outline your products and services

The best business plans clearly specify the business's products and photography services. As you draft your plan include the following details:

• Photography type - Will your business specialize in commercial photography, marketing photography, landscape photography, portrait photography, pet photography, or wedding photography? Will you mainly shoot individual portraits or family portraits? Identifying your niche in the photography industry in your business plan will allow you to structure other elements of your business model around that particular focus.
• Pricing model - When it comes to the financial aspects of your business, few details are more important than your business's pricing model. Will you charge by the hour or by the photoshoot (regardless of time)? Is photo editing included in the package or is there an additional cos t ? Look at other photographers for example pricing; likely event photography pricing is structured differently than landscape photography. You would also need to consider your business expenses and budget when setting your rates. Being as specific as possible about your pricing model will help you estimate your income and also p rovide a clear outline of your rates for potential clients.

REAL BUSINESS EXAMPLE: Based in Manchester, New Hampshire, Image of Home Real Estate Photography is a small business with a big-time, three-tier pricing model. Their website states that they charge by the square foot and offer the additional benefit of same-day image delivery. This pricing model was, more than likely, hashed out in the business plan. Settle on the pricing specifics for your business and be sure to share them on your online platforms so that they are clearly visible to the public.

4. Analyze your finances

When it comes to financial planning, the more you can foresee, the better. This will keep you from overextending your budget in terms of expenses or overestimating your revenue in your first year. 

To adequately plan for finances, detail the following in your business plan:

• Expenses – Expenses include everything from ordering business cards to the cost of equipment to your studio space. Make a list of everything you’ll need to pay for to get your business up and running. Doing so will also help you budget for the unknown, such as buying an extra lens in case one breaks or hiring an assistant to lend a hand on a particular photo shoot.
• Projected revenue – To stay afloat in the long run, you’ll need to bring in more revenue than you’re spending. As a result, it’s wise to calculate your projected revenue alongside your expenses in your business plan—especially in the first year. These calculations will allow you to budget properly and change your strategy should your financial situation change.
• Set up bank accounts and EIN - Most professional photographers tend to work independently or work by case. Therefore, it is better to separate your work bank accounts and credit cards from your personal accounts to manage your finances. Further, even if this is a small business, you still need to apply for an EIN (employee identification number) from the IRS for legal purposes.

In addition, figuring out where you stand financially will enable you to find room in your budget for marketing strategies and competitive analysis metrics.

5.  Understand your competition

An often overlooked, yet highly important, section of most business plans is the competitive analysis section. 

Researching your competition is beneficial for many reasons. Not only will you better understand your competition’s pricing models and services, but you’ll also learn how you can set yourself apart from competitors. Given the fact that there are more than 40,000 professional photographers in the U.S. , knowing how to stand out in the industry will make sure your one-of-a-kind business doesn’t get lost in the shuffle. 

When writing your competitive analysis section, it’s helpful to answer the following questions:

• How many photographers are located in my area?
• Am I fulfilling a specific niche (i.e. landscape, portrait, etc.)?
• What are my competitor’s pricing models?
• What are their marketing strategies?
• What are my competitors doing well? What could they improve upon?
• Who are my potential client pods and are they overlapping other existing photography businesses?
• How will I provide a necessary and unique photography service?

Of course, there are many more questions you could ask when thinking about your competition, but these should help you get started.

6. Devise a sales and marketing strategy

Good business plans almost always focus on business growth. But to grow your business and attract new clientele, you need to market yourself. 

Detailing your marketing strategy is, therefore, a crucial component of a strong business plan. If you’re wondering how to get photography clients, you’ll want to employ a number of different marketing tactics.

When writing the marketing section, it’s helpful to think of the following strategies:

• Social media marketing – Given that social media is a major conduit of ideas and information, it’s important to develop a social media strategy for your photography business. As a photographer, your portfolio and past works are the best marketing materials. Image-sharing platforms make the most sense, but you’ll want to consider the potential of other platforms, too. For example, if you want to attract local clientele , the best way to connect with your neighborhood is on Nextdoor. This community-minded platform allows you to set up custom business ads or create a Business Page where you can showcase important aspects of your business—from operating hours to services.
• Email marketing – In your business plan, detail how you intend to use email to market yourself. Will you send around a quarterly email discussing new trends in the photography world? Will you deliver special holiday emails urging your target audience to take advantage of discounted holiday shoots? Generating an email list is an effective way to keep clients in the loop about what’s happening with your business.
• SEO marketing – SEO, or search engine optimization, is a critical strategy that will help drive potential customers to your website. To improve the quality of your site, you’ll want to decide which type of keywords are important to your business and build content around them to make your website more discoverable by Google and other search engines. You can do this by adding informational content to different pages on your website, as well as creating a photography blog with helpful tips and information for users. For example, if you are a portrait photographer, you can add keywords such as family pictures or graduation portfolio photos.

7. Set operation logistics and management structure

This section gives you the opportunity to first think through the details of your business workflow then define how you will manage the logistics of your day to day operations. A major part of your photography business will likely be post processing and photo editing before final delivery. Spend time defining how long editing will take after a shoot. How many days afte r a shoot will you promise delivery to your customers? What methods of payment are you planning to accept? Other topics to address in this section may include:

• Primary and backup suppliers
• Equipment inventory
• Transportation expenses
• Management and staff structure if applicable

8. Perform customer and market analysis

C ustomer and market analysis is a critical part of your photography business plan; it helps define the size of the market needing your service as well as your ideal client. Here you will justify your target market and specify niche segments within that market. To do this answer the following:

• What is your dream client - age range, gender, location, demographics, and style of photo shoot. Will you specialize in high end weddings, aerial photography, sports photography, or something else? 
• What are the needs of these customers
• how your services address these needs. 
• What is the growth potential of your market segment? Including considerations such as the number of potential customers, their annual income, frequency of photography style needs

9. Establish a timeline and exit strategy

This later section describes your timeline for the goals and objectives outlined earlier in the business plan. Describe how soon you plan to become profitable, within what timeframe do you plan to meet your revenue objectives, or even when you might plan to hire employees to help grow your business. While it may seem far off, planning how you may want to exit your business years down the road may open up questions and considerations that can have a big impact near term. For some, selling their business to a larger investor is the end goal, for others, keeping photography as a small side gig to pass to their children is the exit strategy - no matter your desired path, document it here. 

10. Round out your business plan with Nextdoor

Developing a strong photography business plan is often the first step in running a successful business. Now that you’re equipped with all the tools to execute it like a pro, you’ll be well-prepared for a promising future ahead. 

But no plan is truly complete without Nextdoor — the neighborhood hub that connects you with your local community so that your photography business can flourish.

Claim a Nextdoor Business Page today to simplify the process of building your brand. That way, you can get back to what truly matters—working your magic behind the camera.

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HOW TO WRITE THE ULTIMATE PHOTOGRAPHY BUSINESS PLAN

Table of contents, 1. summarise your services and products, 2. describe your target market, 3. analyse your competitors, 4. conduct a swot analysis, 5. outline your marketing plan, 6. outline your operations plan, 7. work out your finances, 8. set goals and create systems, 9. write an executive summary.

What is your main photography service?

List any other photography services your offer, how do your photography services complement each other, describe the products you provide to clients.

Sum up your ideal client in one sentence

What are the top 3 desires you can help with, what are the top 3 pain points you can help with, what will connect you and your ideal client, 3. analyse your competitors.

List 2 or 3 of your closest competitors

Describe their services and products, who are they appealing to, what is their price point and position, what are they doing well, what could they be doing better, write 3-5 adjective to describe their brand, 4. conduct a swot analysis.

Make a list of your strengths

Acknowledge your weaknesses, where are the opportunities, are there any potential threats, 5. outline your marketing plan.

What makes your business stand out?

Write your elevator pitch, write your big, bold statement (tagline), define your brand personality and tone of voice, what content are you going to create, which social media platform will you use and how, will you do any face-to-face marketing, will you seek publicity for your business, how will you generate and nurture leads, how will you create loyalty and encourage referrals, 6. outline your operations plan.

Describe the enquiry and conversion process

Describe the booking and onboarding process, describe the shoot or wedding process, describe the post-shoot/wedding process, describe the product sales process, describe the order fulfilment process, describe the process beyond order fulfilment, 7. work out the finances.

Summarise your CODB and salary aims

Where are you positioned in terms of price, which pricing model is right for you, 8. set goals and create systems.

Decide on your financial goal

Map out your systems, what needs to happen for your systems to work, 9. create an executive summary.

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How To Write a Winning Photography Business Plan + Template

Creating a business plan is essential for any business, but it can be especially helpful for photography businesses who want to improve their strategy and/or raise funding.

A well-crafted business plan not only outlines the vision for your company, but also documents a step-by-step roadmap of how you are going to accomplish it. In order to create an effective business plan, you must first understand the components that are essential to its success.

This article provides an overview of the key elements that every photography business owner should include in their business plan.

Download the Photography Business Plan Template

What is a Photography Business Plan?

A photography business plan is a formal written document that describes your company’s business strategy and its feasibility. It documents the reasons you will be successful, your areas of competitive advantage, and it includes information about your team members. Your business plan is a key document that will convince investors and lenders (if needed) that you are positioned to become a successful venture.

Why Write a Photography Business Plan?

A photography business plan is required for banks and investors. The document is a clear and concise guide of your business idea and the steps you will take to make it profitable.

Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.

Writing an Effective Photography Business Plan

The following are the key components of a successful photography business plan:

Executive Summary

The executive summary of a photography business plan is a one to two page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.

• Start with a one-line description of your photography company
• Provide a short summary of the key points in each section of your business plan, which includes information about your company’s management team, industry analysis, competitive analysis, and financial forecast among others.

Company Description

This section should include a brief history of your company. Include a short description of how your company started, and provide a timeline of milestones your company has achieved.

If you are just starting your photography business, you may not have a long company history. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company before or have been involved in an entrepreneurial venture before starting your photography firm, mention this.

Industry Analysis

The industry or market analysis is an important component of a photography business plan. Conduct thorough market research to determine industry trends and document the size of your market. 

Questions to answer include:

• What part of the photography industry are you targeting?
• How big is the market?
• What trends are happening in the industry right now (and if applicable, how do these trends support the success of your company)?

You should also include sources for the information you provide, such as published research reports and expert opinions.

Customer Analysis

This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, interests). You will need to provide a profile of each customer segment separately, including their needs and wants.

For example, customers of a photography business may include individuals, families, small businesses, or corporations.

You can include information about how your customers make the decision to buy from you as well as what keeps them buying from you.

Develop a strategy for targeting those customers who are most likely to buy from you, as well as those that might be influenced to buy your products or photography services with the right marketing.

Competitive Analysis

The competitive analysis helps you determine how your product or service will be different from competitors, and what your unique selling proposition (USP) might be that will set you apart in this industry.

For each competitor, list their strengths and weaknesses. Next, determine your areas of competitive differentiation and/or advantage; that is, in what ways are you different from and ideally better than your competitors.

Marketing Plan

This part of the business plan is where you determine and document your marketing plan. . Your plan should be clearly laid out, including the following 4 Ps.

• Product/Service : Detail your product/service offerings here. Document their features and benefits.
• Price : Document your pricing strategy here. In addition to stating the prices for your products/services, mention how your pricing compares to your competition.
• Place : Where will your customers find you? What channels of distribution (e.g., partnerships) will you use to reach them if applicable?
• Promotion : How will you reach your target customers? For example, you may use social media, write blog posts, create an email marketing campaign, use pay-per-click advertising, launch a direct mail campaign. In addition, you may promote your photography business via public speaking engagements, trade shows, or partnerships.

Operations Plan

This part of your photography business plan should include the following information:

• How will you deliver your product/service to customers? For example, will you do it in person or over the phone only?
• What infrastructure, equipment, and resources are needed to operate successfully? How can you meet those requirements within budget constraints?

The operations plan is where you also need to include your company’s business policies. You will want to establish policies related to everything from customer service to pricing, to the overall brand image you are trying to present.

Finally, and most importantly, in your Operations Plan, you will lay out the milestones your company hopes to achieve within the next five years. Create a chart that shows the key milestone(s) you hope to achieve each quarter for the next four quarters, and then each year for the following four years. Examples of milestones for a photography business include reaching $X in sales. Other examples include hiring a certain number of employees, partnering with another company, or opening up a second location.

Management Team

List your team members here including their names and titles, as well as their expertise and experience relevant to your specific photography industry. Include brief biography sketches for each team member.

Particularly if you are seeking funding, the goal of this section is to convince investors and lenders that your team has the expertise and experience to execute on your plan. If you are missing key team members, document the roles and responsibilities you plan to hire for in the future.

Financial Plan

Here you will include a summary of your complete and detailed financial plan (your full financial projections go in the Appendix). 

This includes the following three financial statements:

Income Statement

Your income statement should include:

• Revenue : how much revenue you generate.
• Cost of Goods Sold : These are your direct costs associated with generating revenue. This includes labor costs, as well as the cost of any equipment and supplies used to deliver the product/service offering.
• Net Income (or loss) : Once expenses and revenue are totaled and deducted from each other, this is the net income or loss.

Sample Income Statement for a Startup Photography Business

Balance sheet.

Include a balance sheet that shows your assets, liabilities, and equity. Your balance sheet should include:

• Assets : All of the things you own (including cash).
• Liabilities : This is what you owe against your company’s assets, such as accounts payable or loans.
• Equity : The worth of your business after all liabilities and assets are totaled and deducted from each other.

Sample Balance Sheet for a Startup Photography Business

Cash flow statement.

Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include:

• Cash Flow From Operations
• Cash Flow From Investments
• Cash Flow From Financing

Below is a sample of a projected cash flow statement for a startup photography business.

Sample Cash Flow Statement for a Startup Photography Business

You will also want to include an appendix section which will include:

• Your complete financial projections
• A complete list of your company’s business policies and procedures related to the rest of the business plan (marketing, operations, etc.)
• Any other documentation which supports what you included in the body of your business plan.

Writing a good business plan gives you the advantage of being fully prepared to launch and/or grow your photography company. It not only outlines your business vision but also provides a step-by-step process of how you are going to accomplish it.

A well-written business plan is essential for any photography company looking to start, expand or grow its business. It can also help attract investors.  

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CAREER TIPS

How to Write a Photography Business Plan and Nail It

• Julia Ronen
• Jul 17, 2017

Photographers, designers, bloggers – as artistically inclined people, we are undoubtedly good at creating. Planning, on the other hand, well that’s not necessarily our forte. Unfortunately, a camera or a paintbrush is not exactly the best tool to help you build a successful business. However, in order to do what we love for a living (which is a great accomplishment in itself!), we have to master not only our trade but also the art of managing a small business. Luckily for you, creating a photography website has already been taken care of.

While it may appear intimidating in the beginning, with the right set of tools, you can grasp the hang of it pretty quickly. Just like any other new creative technique you acquired – all you need to succeed is the desire to learn.

This is where we would like to chip in our 5 cents to help our photographer friends take the first step in starting a photography business . Remember, behind every successful photographer is a well thought through business plan. Let us walk you through creating a photography business plan that will set your foot on the right path – the one that leads to success:

So… What is a business plan exactly?

To put it simply, a business plan is a guide that outlines your business’ goals and how you plan to achieve them. It’s created by the business owner on a yearly basis and serves as a reference for any managerial or financial question that may come up during the year. In case you plan to raise funds for your business or negotiate a loan from the bank, a concise photography business plan will make you look professional and sincere in all your intentions. On top of that, the plan will serve as a personal target to achieve, a reference to follow up on your accomplishments, and a guide on where you need to concentrate your efforts in order to do better next year.

With that being said, it doesn’t have to be as long as your exposure settings during night time. The document’s length is up to you, but the principle of “less is more” is a great guideline to start with. After all, you’re not building a groundbreaking start-up company in Silicon Valley, but a traditional photography business, that probably has a lot in common with other businesses in the field – so your readers will most likely know what to expect.

First – wait a second (or two)

Before getting down to some hands on calculations, there are a few things that need to be taken care of. The first of which being you – so take a deep breath (literally, it’s important!).

Now, you have some serious thinking (and writing) to do. In order to position yourself in the highly competitive world of commissioned photographers, you’ll need to define your services, target audience, and business goals. Is this sounding all too much? Not if you follow these steps:

Do some industry research

Do some groundwork on your competition, especially in the geographical area where you plan to operate:

What kind of services do they provide?

Does anything set them apart from the crowd?

What do their online assets look like ( photography website , Facebook business page , Instagram , 500px, etc.)?

How much do they charge? Do your best to find out by browsing their site or asking for an estimate.

What do their clients have to say about them? To find out, simply “Google” your competitors’ name and browse the reviews.

Identify your target audience

Your target audience are the people that are most likely to hire you. They will be the focus of all your marketing efforts. To identify your audience, try to think about the following questions: Who are your clients? What is their approximate age, marital status, income status, where do they live? What are their needs and how can you meet them? Why would they choose you over a competitor? The more information you have, the more accurate your marketing strategy will be.

Define your product and services

With that information in mind, you can start to develop your game plan. Try to define your product and services in the most detailed way possible. For example, if you’re a wedding photographer, there’s much more to your services than just wedding photo shoots. First, you probably provide your service in several differently priced packages. Secondly – you also have a physical product – the photo album, and perhaps a USB stick for the client: every item should be listed for budgeting purposes.

Find your niche

Everyone provides high-quality photos and services. Undoubtedly, you do too. So how will your photography business catch the eye of the tiger, e.g. potential clients? Based on the market research you did, try to come up with something that will set you apart from other photographers in your locale. It can be a unique photography style , a special photography package, a delicate personal touch , or any other exclusive idea your brainstorming session will produce. That “little something” that makes you different will be very useful in marketing your photography business.

Know thyself

As you make plans for the coming year, think of your strengths and weaknesses, and use both to leverage yourself. How? Well, strengths are obvious: for example, if you’re a people’s person, you’ll probably excel at marketing your services. As for weaknesses – set a goal to work on the ones you’d like to improve so that your business can benefit from it. For instance, you might consider yourself a technophobe when it comes to creating a photography website or promoting your business online. So one goal for the coming year could be improving your knowledge about online marketing terms , SEO for photographers , and everything you need to know in order to create a great photography website .

Set the right price

The price of your services is a key element, on which your entire photography business plan is based on. Remember the market research you ran four paragraphs ago? The price range of photography prices in your area should be your first indicator. You need to make sure that your final price is positioned within that scale according to your level of expertise.

On the other hand, your price needs to secure your monetary goals for the year. What amount of income do you plan to bring home? Is it a full-time job, or a side gig? How many sessions do you think you could secure per month? What is the price that can give you a net profit on top of your expenses and dedicated time? Bear in mind, that some questions can only be answered after you’ve earned some mileage as a professional photographer. In the meantime, here is a great reference to what photographers of different expertise levels charged in 2016 .

Set your goals

If the business plan serves as an orientation map through the year, then it must have a clear destination. Remember, a good “destination”, or objective, is an achievable one. The more defined and the more realistic, the better. When choosing a target, think of how you can measure its success. If it ain’t measurable, it ain’t pleasurable.

Now let’s get to business (plan)

Now that the theoretical part is done, it’s time to talk numbers. The purpose of this part is to understand the financial side of things, and mostly – to obtain your net profit. Here’s a step by step guide to calculating your earnings for the upcoming year:

01. Define your total sales per month . This includes both your booking fee and product sales. Think of the average amount of gigs you get per month, and multiply by the average amount of money you earn from each job.

02. Costs of sales per month – include all your expenses on getting the job done. This can include a second shooter, print lab fees, and average travel expenses to and from the event. Note that these are not your fixed costs (we’ll get to this below).

03. Time for gross profit ! ‘Total sales per month’ minus ‘costs of sales per month’ will give you this number.

04. To figure out your monthly net gain, calculate your general business expenses, i.e. fixed costs . These expenses are constant and do not add up per photo shoot. For example, they can include marketing expenses, accounting, equipment, hardware, and taxes. Definitely skip hosting and web-design fees, as you can easily make an impressive photography website for free! Divide the number you get by 12 – these are your fixed costs per month.

05. It’s the final countdown: your gross profit minus monthly fixed costs will generate your net profit .

About that net profit

If you’re just starting your business, take into consideration that many businesses take a year, sometimes more, to get out of a negative net profit. That means that you need to plan ahead and prepare some savings to survive that first year. If you end up having a nice net profit, you have two choices: keep it to yourself (that’s why you were doing this in the first place, right?) or invest it in the coming year to grow your business even further. A nice net profit will give you the option to do both, depending on your business goals of course.

That’s it, you’re ready to go. Good luck with the new exciting journey! Now that you have a detailed map, the road to success is clearly marked.

Related Posts

10 Photography Side Hustle Ideas to Monetize Your Online Presence

How to start a photography business: a beginner’s guide

How to Create a Photography Website in 10 Steps

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How to write a successful photography business plan a guide.

Are you looking to write a picture-perfect business plan for your photography business?

A business plan is a key step when you’re embarking on your career as a business owner. Whether you’re starting a business in the construction industry or a small bakery, your business plan is a road map to success.

When it comes to starting a successful business, so much hinges on your ability to structure and plan. That’s not to say that your plan can’t change, but if you don’t have a plan in the first place then things can become distorted very quickly.

Not all good businesses start with a business plan. But that doesn’t mean there aren’t advantages to be had in creating one.

Many business founders find a huge amount of value in taking the time to really hone in on their idea. It’s also incredibly useful to thoroughly research the market they’re hoping to enter.

They’re a fantastic way to entice investors, partners or even employees. They are also a great way to set long-term goals to keep your business viable.

But how exactly do you write a business plan? We’ll take a look at what a business plan is and the steps you can take to write a thorough and detailed plan for your photography business.

Here’s What We’ll Cover:

What Is a Business Plan?

Why should i write a business plan, how to write a successful business plan, key takeaways.

A business plan is a mission statement that a business owner puts together to describe their idea. It is seen as the blueprint for what you want your business to be, and how you envision yourself getting there.

A good business plan will have a high level of detail and will answer almost any question that an interested party may have.

Starting a photography business is a costly endeavou. So it’s important to get your idea in place and start making plans on how you are going to be able to fund it.

You’ll often see business plans associated with getting a business loan or bringing on board an investor. This is because any potential investor will want to evaluate the feasibility of a business before investing any funding.

There’s no one size fits all way to write a business plan, but most will include these steps:

1. Executive Summary

Your executive summary will serve as a preview of your business plan. This is where you will define the objectives of your photography business and detail your mission statement.

This space should be used to talk about big-picture goals and details – what your speciality will be, for example. You should also give an idea of what you believe sets your business apart, or what your USP will be.

2. Company Description

It’s important for you to have a vision for your business. It’s even more important to be able to communicate that vision to others. That’s what your company description is for.

Here you will outline how you plan on structuring your company. That will include whether you’ll be a sole trader, a limited liability company or another form of organization.

You should also include how you want to do business. Will you mostly be working in a studio? Or do you see yourself travelling around, moving from set to set and shooting on location?

3. Market Analysis

One of the most common reasons that a new business fails is because the owner neglected to properly research and analyse their market.

For example, you’re planning on starting a wedding photography business. But once you’ve done your research you see that there is a large amount of pre-existing companies. Or maybe the last five wedding photographers have gone out of business in the first three months.

Then your market analysis would show that becoming a wedding photographer may not be viable in your area.

Your analysis should show the reader what gaps in the market you will be aiming to fill. It should show that you have a detailed level of understanding and you fit into the structure of the market.

4. Goods & Services

Here you should expand on the services you plan on offering. Are you purely sticking to photography? Are you also going to offer an editing service?

Are you mainly going to be shooting commercial gigs or are you a landscape photographer?

5. Marketing Plan

This is an important part of your plan. It’s all well and good creating a niche business that fills a gap in the market, but if nobody knows your business exists then you won’t get very far.

Your marketing plan should be a comprehensive examination of how you plan to sell your photography. The things you’ll want to outline and highlight may include:

• What mediums you plan to use to market your business – ie. Instagram, Facebook, newspapers, radio or tv adverts etc.
• Your engagement – how to not only attract potential clients but keep and develop them into a customer base.
• Your brand – you should have a clear and detailed brand that makes you stand out and be instantly recognisable as a photography business.
• Your audience – who is your target market? What does your ideal customer look like?

6. Financial Plan

Arguably the most important component in your new photography business, creating a solid financial plan is key.

The first thing you should outline is the start-up costs. This would include your overheads such as equipment rental, rent if you’re basing yourself in a studio, website design and domain. Essentially everything you need to get your business started.

You’ll also want to start to get a realistic view on your financial statements once you’re up and running. That may include your balance sheet, projected cash flow and income, and any other estimated costs that you may incur.

If you are unfamiliar with the world of finance, you may want to seek some expert advice . Poorly managed funds are the number one reason that small businesses fail. So it’s in your best interest for your finances to be as organised as possible.

A business plan is no small feat. It will take time, effort and a lot of planning.

Most business owners will see a business plan as a labour of love. It may seem like a daunting task to begin with, but further down the line you’ll be happy that you took the time to make one.

The photography industry can be a tough nut to break. So the better prepared you are, the more likely you are to succeed and take your place next to the other professional photographers.

Are you looking for more business advice on everything from starting a new business to new business practices?

Then check out the FreshBooks Resource Hub .

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Photography Business Plan

Things to Consider Before Writing a Photography Business Plan

You’ll need to focus on both the artistic and business sides of your trade.

Though having an excellent eye for proportion, dimensions, and light is great it isn’t enough to have a profitable business. You bring your skills to the table, but you’ll have to work as hard as any other business owner on your marketing, finance, and operations to have a profitable business.

And though it might seem intimidating, with the right amount of planning and strategizing you can do it smoothly.

Get the Pricing Right

It is important to study every aspect of the market and select the pricing strategy that suits your business the best. Your pricing as a photography business would depend a lot upon the niche you choose, your location, and the quality of your skills.

Develop Your Soft Skills

Good photography isn’t just about your skills with the camera, especially if you are dealing with people. You’ll need to make your customers feel at ease and have a friendly way of communicating.

This helps you become the person’s go-to photographer. As pictures aren’t just products you pay for, but memories that are cherished for years.

But at the same time, if communication isn’t your thing you don’t need to worry. As there are several other niches in photography that you can pick from.

Get the Right Equipment, but Don’t Go Overboard

The right camera, technical equipment, etc, are important to help you work effectively. But it doesn’t do to go over budget for it. Especially, if you are just starting out.

Pick the right equipment, but not the one that weighs down on your finances at the early stages of your business.

Why Do You Need a Photography Business Plan?

As you are ready to enter the industry, it brings us to the above question, why does one need a photography business plan?

Aren’t you just supposed to dive right in if you are passionate enough?

The answer is, NO.

Though diving headfirst might sound appealing, it can lead to a series of roadblocks in the future. Also, a business plan isn’t as time-consuming as it may seem to you.

It increases the efficiency of your business and acts as a guide on your road to success. Moreover, writing a business plan helps you get a clear idea of your goals and the opportunities and threats that stand in your way of achieving them.

Also, a well-researched and innovative plan can help you get funded. An investor’s confidence in you is directly proportional to the clarity of your business idea. A business plan can help you achieve just that.

How to Write a Photography Business Plan?

Writing a business plan is not as intimidating as it seems. A well-rounded business plan requires thorough research of the industry, a clear set of goals, well-observed and carefully designed strategies to achieve them, and a clear list of milestones and timelines for all the departments of the business.

A business plan should include strategies for all departments from marketing to finance. There are several resources like online software, business consultants, and predesigned templates that can help you in writing the perfect business plan .

Writing a business plan has become a cakewalk through online business planning tools which can craft an ideal business plan for you at the snap of your fingers.

Chalking out Your Business Plan

Though anyone can click pictures with devices as simple as a smartphone, it takes skills, a sense of proportion, and creativity to make people stop scrolling.

In today’s world of photo-sharing apps where people grapple for attention, the demand for excellent photographers continues to rise.

Hence, with the advent of Instagram, the photography industry is growing leaps and bounds.

Photography Business Plan Outline

This is a standard photography business plan outline that will cover all important sections that you should include in your business plan.

• Introduction
• Products and Services
• Financial Path To Success
• Keys to Success
• Company History
• Market Segmentation
• Target Market Segment Strategy
• Competition and Buying Patterns
• Web Plan Summary
• Website Marketing Strategy
• Development Requirements
• SWOT Analysis
• Competitive Edge
• Marketing Strategy
• Sales Forecast
• Year 1 – Digital Media Production
• Year 2 – Digital Media Production
• Year 3 – Digital Media Production
• Important Assumptions
• Projected Profit and Loss
• Projected Cash Flow
• Projected Balance Sheet
• Ratio Analysis

As you sit down to write your business plan, it brings us to the question, what all things you will need to include in your business plan? Read on to find out.

1. Write an Executive Summary

The executive summary section of a business plan works as an overview of your business and acts as a highlight of its aims and goals. It should be brief and precise and sum up everything your business stands for.

It serves as a pitch of your business ideas to potential investors and should have the following points.

• The kind of services your business offers (Eg. Commercial Photography, Travel Photography, etc.)
• Your target audience (Eg. Models, travel bloggers, influencers, etc.)
• Your strengths and past experiences
• Your goals for the company.

2. Business Overview

In the business overview section, you’ll jot down all of the business ideas you have and analyze how to bring them to life.

This section would consist of an overview of the functioning of your business. as well as your mission statement.

While writing this section it is important to be as precise as possible It helps the stakeholders of your business to know it better.

3. Describe the Services You’ll Offer

In this section of your business plan, you have to list the services you are going to offer. This helps you get a clearer idea of how to advertise your services and how to reach out to your target audiences.

For example, if you are a landscape photographer all of your marketing strategy and the list of resources and services you’ll need will be built around that.

Also, your target audience would be travel websites and tourism companies. And the ways of reaching out to them would be different than reaching out to influencers or celebrities.

4. Market Analysis

The market analysis section is a crucial part of your business plan.

In this section, you’ll write down everything you can find about the photography market as well as resources that can help you stay updated about the recent trends in the market.

For example, as a photographer, it is essential to know the trending photography techniques.

You can also include the size of the market, your competitors, areas that have the highest growth potential, etc Know the right market value of services and identify the existing market gaps that you can fill.

Let’s consider there is no food photographer in your locality and the restaurants around you need one, you can specialize in food photography to capture that market.

5. Create a Website Strategy

The Internet is the first place where people look for any product or service, hence your business must have a website to be discovered by clients.

A well-optimized website can help you in meeting a lot of potential customers.

Including a website strategy in your business plan is crucial.

6. Plan Your Finances

Your financial planning is one of the major deciding factors of whether your business will stay afloat or not.

In this section keep track of your company’s finances, jot down ways of making it more cost-effective. List down resources that can help you understand and manage your finances better.

Download a sample photography business plan

Need help getting started writing a business plan? Here you go; download our free photography business plan pdf to start.

It’s a modern business plan template designed for your photography center. Refer to the example business plan and follow step-by-step instructions to start writing your plan.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

Write your business plan with Upmetrics

A business planning tool like Upmetrics is the best way to draft your business plan. This incredible tool comes with step-by-step instructions, customizable templates, AI assistance, and business plan examples to help you get started.

You may also explore our library of Entertainment and media business plan examples before you start writing your plan.

So, whether you are starting a photography business or planning to grow an existing one, Upmetrics is the tool you need to create a business plan.

So, what are you waiting for? Start planning now!

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Frequently asked questions, what are some common mistakes to avoid when drafting a photography business plan.

Following are some of the common mistakes to avoid when writing a photography business plan:

• Inadequate and inaccurate financial projections.
• Poor market research and ignoring industry trends.
• Undefined goals and lack of details.
• Not proofreading the document for typos and grammatical errors.
• Including outdated and irrelevant information.
• Not regularly updating your business plan.

What are some key financial metrics to include in a photography business plan?

Following are some of the key financial metrics to include in your photography business plan:

• Balance sheet
• Cash flow statement
• Income statement
• Break-even statement
• Projected business ratios
• Sales and revenue projections
• Projected expenses

How can a photography business plan help in securing funding or investment?

A well-crafted photography business plan will help your investors better understand your business domain, market trends, strategies, business financials, and growth potential—helping you secure investment.

Where to find business plan writers for your photography business?

There are many business plan writers available, but no one knows your business and ideas better than you, so we recommend you write your photography business plan and outline your vision as you have in mind.

About the Author

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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How to Write the Ultimate Photography Business Plan: A Detailed Guide

Are you looking to start your own photography business? Or are you someone who already owns one and are looking to take it to the next level? Having your own photography business plan is the first step!

Creating a business plan for photography is one of the most important things you can do to ensure that you have a higher chance of success.  It gives you clarity on what your goals are and how you go about achieving them.

In effect, it is a road map to success.

In fact, research shows that 71% of the fastest-growing companies have written documentation for their plans and business owners who took the time to write them saw growth 30% faster than those who did not.

Photography is a highly competitive industry where reputation matters. As a startup, it is hard to break into this industry and gain market share. Doing the initial research and creating a photography business plan will give you a head start. 

Read on until the end to find a downloadable photography business plan template that you can use to create your very own!

Here’s what we will be discussing in the blog:

• What exactly is a business plan and why should you write one?
• How do you go about writing a business plan?
• What is the lean business plan?
• Traditional business plan vs Lean business plan: Which one is right for you?

What exactly is a photography business plan and why should you write one?

A business plan is a document that outlines the product or service that you are selling, your strategies to market the product, your financial strategy (the revenue model and how revenue is generated) and includes information about day-to-day operations. 

It also specifies the goals that you set for your business and your ideas on how to achieve those goals . Ideally, you should create a business plan when you start your business but it’s never too late to start.

Having a detailed plan in place ensures that you are never confused about the direction your business should take and this helps you align day-to-day decisions with the overall goal you have for your business.

Writing a business plan involves analyzing the target market as well as the competition. This step might reveal to you that maybe this business is not as lucrative as you thought it would be. You might save a lot of time and money by altering your course.

If you plan to raise funds to start your business, either by approaching investors or lenders, a business plan is all the more important . A good and thorough document tells them that you are serious about your business and this gives them the confidence to invest in you.

How do you write a photography business plan?

An important question to answer is how to write a business plan for a photography business. It may seem like a daunting task at first, but we assure you, it is anything but.  

Here’s a photography business plan outline, read on to find out more about each section: 

• Executive Summary
• Business Description
• Market Analysis
• Competitor Analysis
• Marketing Plan
• Operations Plan
• Financials Plan

1. Executive Summary

This is the first section of the plan. This section is where you summarize the contents of the plan into a short pitch.

Potential investors go through multiple photography business plans in a day and don’t have the time to read through each of them in detail. The executive summary is what they will focus on.

You should clearly and concisely explain what your company is about, where you are now and what you hope to accomplish in the future. Make it short, sweet, and to the point.

Include the vision you have for the company, its mission statement, and a short photography business description of the products/services you provide. Since it is a summary, it is recommended that you write this section last but make sure to spend some time on it.

Here’s a photography business plan executive summary sample that you can look at to understand exactly what points need to be included in each section.

Remember, you have to include only the most important points in the executive summary. Make it engaging and interesting to read by creating a narrative. This will ensure that the reader remains captivated and reads the whole thing.

Vision Statement

When writing a vision statement , you need to ask yourself, “Where do I see my business in 5 years?”

Having long-term goals gives you a target to work towards. An important point to remember here is that you shouldn’t sell yourself short when setting long-term goals . At the same time, your goals should not be too unrealistic either. 

Because these goals take a long time to achieve, you might forget about them as time goes on. You may achieve certain milestones and become complacent. Having solid goals ensures that you remain on track no matter what. They help you monitor your progress and correct your course if need be.

Your business’s goals are determined by the niche that you are in, and your own personal situation such as how much time you can devote to the business.

Some long term goals could be:

• Having your own photography studio
• Employing 10 people
• Generating $500,00 in annual recurring revenue ( the average revenue for a retail photography business is $238,689 )
• Having 100 repeat customers
• Working for a retail client
• Having your work showcased in an art gallery
• Having your photo appear on a popular magazine cover, etc.

Mission statement

Next comes the mission statement . A mission statement is the business’ reason to exist. This is where you explain why you are doing what you do. Here’s what you need to include:

• Value – What is the value of your photography business in the market? How can it help your clients? 
• Inspiration – Why should people want to come to you?

Make sure your mission statement is clear and concise . Your short-term goals should have time frames associated with them.

A photography business plan example of a mission statement is:

“ To deliver professional and creative images at an incredible value, we make sure that customer satisfaction lies at the heart of everything that we do “

Just reading these two sentences tells you what the company does, and what it is they represent. This is what you should also aim for with your mission statement.

Writing an executive summary for the first time can be confusing and you might get stuck wondering what to include and what to leave out.

To help you out, here are some topics you can include:

• Business overview
• Product overview
• Target customers
• Management Structure
• USP and other success factors
• Long term goal

2. Business Description

This is where you describe your business. Ensure that the name of the company is clearly stated here.  Clearly mention your niche and give a short overview of what that involves.

Some popular niches in the photography industry are: 

• Wedding photography
• Portrait photography
• Commercial photography
• Event photography
• Product photography
• Freelance photography, etc.

Next, you should provide an overview of your business. Describe what the business does.  Start with a short sales pitch. Make sure to mention the USP of your business.

For example, “We provide wedding photography services to clients at an affordable price point. Customer experience is at the heart of everything that we do and customer satisfaction is our number one priority”.

Next,  mention the structure of your business i.e. whether it is a sole ownership business, partnership, LLC, or corporation. Include the names of the proprietors and other stakeholders in the company. 

Additionally, you can also include when the business was started, the struggles you faced along the way, and how you overcame them. The reader should be able to get an idea of what your business is by reading this section alone . 

Then, list the services that you offer. Write a brief description of what each service entails.

Highlight the services that bring you the most profit. These are the services that you should be focusing on when growing your business.

3. Market Analysis

Write a detailed analysis of the target market that your photography business aims to serve . You would have identified a niche that your business intends to cater to – like portrait, still life, landscape, travel, etc. 

Write a detailed analysis of the target market for your particular niche. This is where you prove to potential investors that you have a clear understanding of the needs and wants of the target market .

A great market analysis will answer the following questions:

• Who are my potential customers?
• What are my customers’ buying habits?
• How large is my target market?
• How much are customers willing to pay for my product?

Start by creating a client profile . Describe your ideal client. This gives you an idea of who you are selling to.  Fine-tune your marketing efforts keeping in mind these customer profiles for maximum engagement.

Creating a professional-client profile would ideally include customer demographics, customer psychographics, etc. This will help you identify who your potential customers are, and what their buying habits are:

For example, if you are a wedding photographer, your research will tell you that your average client is around 30 – 35 years of age. People in this age group are part of the millennial generation. Research shows that millennials spend an average of 2 hours and 34 minutes a day on social media. Therefore, your chances of reaching them are highest if you market your business on social media.

If your business is already operational, you can look back at the previous clients that you have had and analyze them to find common trends. This can provide valuable insight into who your ideal clients are.

Next, analyze the industry. Include the current size of the target market, the growth rate, and so on.

Photographic services is a $35 billion industry globally , with the US accounting for $15 billion or 40% of the total market share. Further, the industry is growing at a rate of 0.6% annually in the US.

4. Competitor Analysis

Running a small business can be extremely competitive, especially a photography business where reputation counts for a lot. So in order to be successful, it is imperative that you have a very good idea of the competition that you are facing.

This is where competitor analysis comes into the picture. A good competitor analysis tells potential investors that not only is there a good market for this business but also that you have a great understanding of the market. This improves your chances of securing funding.

Start by making a list of your closest competitors . These are the people that offer the same services as you do and appeal to the same clients as you do.

For each competitor, make the following list:

The benefits of doing this are twofold:

• You will know exactly where you stand with respect to the competition 
• You might notice some additional opportunities that might otherwise have remained undiscovered. 

Competitor analysis helps you identify gaps in the industry that are currently underrepresented. Focusing on these gaps will ensure that you have fewer direct competitors. 

Alternatively, you can beat your competitors at their own game by offering the same services that they do at a lower price , or by offering additional services that help you stand out from the rest.

Any good business aims to solve the problems that people face. The inferences you draw from this analysis, combined with the market research, will help you address the pain points that customers have in this industry. 

For example, you might have learned from your market analysis that the customers would like the option to buy photo albums. Your competition analysis might reveal that only 1 among the 5 photography studios in the area offer this service. In this instance, offering customers the option to buy photo albums will help you stand out.

5. Marketing Plan

In this part of the photographer’s business plan, you outline how you get your product or service across to customers. The marketing plan should include the promotions strategy, outreach, and PR campaigns to be undertaken over a period of time. Write down the cost of these marketing strategies and compare them against the potential benefits to measure their effectiveness. 

Make a list of the various promotional activities and strategies that you plan to do. These can include:

• Cold calling
• Advertising, both locally on billboards, etc, and in the media
• Distributing pamphlets
• Referral programs, deals and discounts
• Workshops, etc.
• Converting CTAs on social media channels like Instagram and Facebook

For example, if you are a wedding photographer, you can tie up with a local bridal clothing store and shoot some of their new collections, and have the photographs printed and displayed in the store. This will be a free promotion for you as you are creating awareness among the customers of that particular store.

You can also host a photography workshop that is free to enter. This builds customer relations and brand awareness in your locality.

Innovative marketing methods like this can get word of your business across to potential customers while reducing expenses on your end. The ideal photography client will need around 15 to 20 touchpoints with you and your business before they’re ready to make an inquiry. This requires a lot of effort in advertising and marketing.

If the marketing plan is complex, it may be difficult to implement. In this case, identifying marketing firms that you can outsource this task to makes your life easier and leaves you with more time to focus on the core business. 

Make a detailed sales forecast for the next quarter, the next 6 months, and the next year based, and include deadlines for your sales forecasts so that you have a target to work towards. This will ensure that your business is on track and leave adequate time for corrective measures if you find that it is not.

6. Operations Plan

The operations plan describes the day-to-day operations of your photography business. A proper operations plan ensures that everything you do on a daily basis is aligned with your long-term goals.

A well-written operations plan will streamline your workflow and ensure that things run smoothly and efficiently. This implies that your clients will have consistently great experiences when doing business with you. As long as a good operations plan is in place, your business will run like a well-oiled machine. 

Each process should be documented. Segment your processes as follows:

• Lead generation
• Meeting the client and understanding their requirements
• The actual shoot
• Editing the images 
• Delivering the finished product back to the clients. 

Having such a detailed operations plan in place will ensure that your business will come across as a professional outfit and clients will keep coming back.

The more tasks you can outsource to employees or third parties, the more time you will have to focus on what actually matters; the core business. Hiring editors and other photographers can reduce your workload. You may need an accountant to manage the finances, a marketing manager to oversee all marketing efforts, and so on. 

The operations plan should clearly state the distribution of roles of each employee working in your company. This removes ambiguity and ensures that work gets done in an efficient manner. 

An example of the role distribution is given below:

You, the owner : Oversees all day-to-day operations, meets with clients, takes decisions on important matters, primary photographer at all major shoots.

Assistant photographer: Assists with larger shoots and handles smaller shoots. Takes care of logistics when going for shoots. 

Editor: In charge of post-processing. Decides which photos are included in the final draft. In charge of printing oh photo albums.

Receptionist: Schedules customer appointments, handles day-to-day tasks and answers phone calls. First point of contact of client interactions.

As your business grows, you may need to hire a receptionist to handle appointment scheduling. Alternatively, photography booking software can handle all your appointment scheduling needs. It also offers a lot of additional functionality like reports that help you stay on top of your business.

7. Financial Plan

A good place to start is by creating an expenses worksheet. This is a document that keeps a track of all your expenditures.

One-time expenses are those expenses that you incur at the time of setting up the business. This usually constitutes the biggest chunk of the pie.

Some examples of one time expenses are:

• Certification Costs
• Insurance Costs
• Other photography equipment like lights, memory cards, etc.
• Studio remodeling
• A company car, etc.

Next, list the recurring expenses. These are essentially bills that you have to pay on a recurring basis.

These can include:

• Software subscriptions
• Employee salaries
• Marketing and advertising costs
• Office supplies
• Phone bill, etc.

Included below is an example of an expenses worksheet. You can use this as a reference when creating your own expenses sheet.

Next, elaborate on the revenue model you have chosen for your business.

In photography, there are broadly 2 revenue models:

• an hourly-rate model where you have a fixed hourly charge
• a fee-upfront model where you charge the client a one-time fee depending on the service you provide. 

You can decide upon one or the other, use a mixture of the two, or come up with a system that is unique to you. 

Once you have decided upon a revenue model, you have to decide on prices for your services. Depending on your market positioning, you can charge a premium for a better service/experience. As long as you offer something unique compared to the competition, that is also in line with your pricing strategy, your business should thrive. 

It is essential to remember that pricing strategies are not set in concrete . Maybe you are resource-limited in your starting days. You might only be able to provide a few basic services. This is by no means a death sentence.

Eventually, you will have more money to invest in people and equipment, allowing you to offer more services. As your client experience improves, you can charge more. The pricing strategy is dynamic. One thing to keep in mind is that you should always provide a value proposition , no matter the price point.

Now write down estimates of monthly revenue taking into account your billable hours, your expenses such as rent, utilities, staff salaries, and other instances of cash flow. Another approach to pricing your services is to start with a target monthly income for your business and work backward , dividing that income by the number of billable hours to get an estimate of how much you should be charging per service per hour in order to achieve your goals.

8. Appendix

The appendix contains links to supporting documents. This can include links to research docs, renders of your office/ photography studio, names of supporting businesses that handle marketing, logistics, etc . Basically, any document that is not directly relevant to the business plan but you feel may add context can be included here.

To help you avoid spending a lot of time on creating the design of your plan, here is a free photography business plan template for you. All you need to do is enter your email below and you’ll get your very own downloadable copy!

Download the free photography business plan template!

Save it or print it out and use it to create a robust business plan!

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What is the lean business plan.

If you are not looking for external funding and feel that a full-fledged, fleshed-out plan is too complicated, you can try creating a lean version. As the name suggests, this is a condensed form of the business plan for a photography studio . It is just one page long and gives a broad overview of specific aspects of your business.

While the business plan primarily exists to secure external funding for your business, the lean version helps you optimize your business and manage it well .

If you are just starting out with your photography business and don’t have the time or necessity to create a business plan, you should look into creating a lean version of the same. This helps you define your goals and ensure that you are on course.

The lean business plan has 4 sections:

• Business specifics

Remember, the perspective of the document changes because it is a document that you are creating for yourself . The information in this is for your reference.

At the end of the day, you know your business better than anyone. This document is there to provide some guidance as you are starting out and to ensure that you are on track to achieving your goals. Try to keep it as short as possible. Use bullet points wherever you can for easy readability .

This is where you define the strategy that your business will use to become successful. Define the target market, the problem that the target market faces, the solution to this problem, and why you think your business is better than the rest at solving the problem. This will give you clarity on what your business needs to be and what you should be focussing on to succeed.

Execution deals with the day-to-day tasks that you need to do in order to achieve your goals. It includes everything from product, to management, to sales and marketing. Start by defining the services that you offer . This is the core of the business and everything else wraps around it. 

Next, describe the management structure of your business . Who does what should be clearly defined. Create roles for each of your employees and delegate specific tasks to them. Some scheduling software help you assign staff roles and empower employees to make their own decisions. If you feel that you have a shortage of manpower, identify those areas where you need employees and create a recruitment schedule.

Create a marketing plan that you are going to use in order to raise awareness amongst the target market and generate leads. This should include all advertisements, PR campaigns, and other outreach activities. Estimate the cost of your marketing efforts and create a timeline .

Finally, write down sales projections based on your marketing efforts. Make sure you include deadlines so that you have targets to work towards.

Business specifics 

This is where you describe your business. Start with your niche. Then list the services that you offer and explain briefly what each service entails. Also, describe the USP of your business.  Include a short description of the operations. 

Start with the money that has been invested into the business. This is your capital expenditure. Specify whether the business was bootstrapped or if the money was borrowed from a bank . If it was borrowed, write down how long it will take for the business to be debt-free. 

Write a brief description of the pricing model. Include financial projections . Make a list of your monthly expenses and current monthly revenue. List how much you charge for each service and determine how profitable they are. Finally, write down how much you should charge for each service to achieve your financial goals.

Traditional b usiness plan vs Lean business plan: Which one is right for you?

When writing a photography business plan, the first question that you need to answer is, “Why am I writing this? Is it for myself or am I writing it to pitch to investors?” The content and structure of this document will depend on your answer to these questions.

If you are writing it to secure funding, it is recommended that you stick with the traditional business plan. It has a more rigid format and will include all the relevant information banks and investors look for. Remember to go into as much detail as possible so that the person reading it can get the full picture.

If, on the other hand, you are writing it for yourself, then you can be far more flexible with the content and structure. In fact, this is the perfect opportunity for you to write a lean business plan. You can include only those parts you find relevant to your business and word it however you want

You don’t need to follow these exact steps when creating your plan. You can pick and choose those topics that you find most relevant to your business.

It is important to know the basics of how to write a photography business plan when applying for a loan or pitching to potential investors – that means including the executive summary, business description, operations plan, and financial plan is a must

Make sure to include all the relevant information so that the readers can get a complete picture of your business. Remember, a photography studio business plan may not be necessary to start a business, but a well-written one can save you a lot of time and money in the long run.

While having a written plan for your investors will facilitate your business to be profitable, as a business owner, you have a responsibility to make sure your processes are optimized as well. A booking software will do exactly that! It will not only help you book more, but also save time by managing your daily admin, boosting booking convenience, helping with marketing, and much more!

Don’t believe us? Try our 14-day free trial to decide for yourself!

About Appointy We at Appointy, help business owners grow and run their businesses with our online scheduling software. This blog was a part of our ‘Manage your Business’ category, where we provide expert tips, and resources, or simply talk about the challenges that small and medium businesses face every day.  If you have any thoughts on this blog or would like to chat about your business struggles and achievements, let us know in the comments below.  We love a good talk!

Amazing plan. It is really interesting. Thank you for sharing this information.

Glad we could help 🙂

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How to write a photography studio business plan

In this article, we'll discuss how to write a photography studio business plan (a precursor to a successful business), so you can start your own photography studio business, today.

By Steef Brandsma

September 27, 2022

In this article...

• Do extensive market research first
• What are some practical methods of doing market research?
• Decide on your positioning in the market
• Do some proper marketing too
• Get online bookings with the right software
• Now write that business plan and get started
• Frequently asked questions

Photo Studio Management Software

The photography studio business is a business, and like all other businesses, it requires planning, investment, training, and a lot of hard work to succeed. If you've noticed, planning is the first step to starting a photography business.

Every business requires solid planning and a photography studio business is no different. But what is a business plan? A business plan is a write-down of what we say in business terms, a SWOT analysis. It analyzes a business's strengths, weaknesses, opportunities, and threats.

Let's show you how to come up with one.

Every business requires solid market research to understand the opportunities and threats from the market.

Whether you're starting a photography studio rental business, a wedding photography business, or anything else, it's essential that you understand the environment in which you're going to start your business and the plan to survive and make money in that environment.

There are two methods by which you can do market research. The first one is to go through the DIY process. This is usually what most beginner entrepreneurs do. It is neither the most recommended method nor the most effective method of doing market research.

The reason is that not every business entrepreneur is excellent at market research. Market research is a specialized job requiring years of experience and domain knowledge to develop a solid business plan effectively.

We're not suggesting that a business entrepreneur does not have domain knowledge. He can be an experienced photographer with a lot of knowledge about the industry.

He may know how to start a photography studio business on the side. He can perhaps even develop a good business plan on his own complete with a costing analysis.

But he may not be an expert in marketing. Additionally, he may not have a solid knowledge of the day-to-day operations of a business. A businessman must address details of setting up the business, identifying the target customers, its daily process, financial requirements, and revenue generation.

Understanding where you fit in the market is essential to formulating a business plan. There may already be a lot of professional photographers in the market that you're trying to target. Many of them might work in the same genre you are trying to target.

How would you place yourself so your services and products are unique to your clients? How will your target customers identify you as a better option than your competition?

Let's say you are a wedding photographer trying to find your place in an already saturated market. First, you must figure out whether you should open your studio in an already saturated market.

If there are more threats in the form of competition than opportunities in the form of business, you will find it very difficult to run your business long-term.

Statistics have shown that 10% of all new businesses perish within the first year, and 30% of all new businesses perish after operation for over three years. The numbers are gloomy, but they teach an important lesson. Finding another market where competition is less and opportunities are more is advisable.

On the other hand, if you are determined to go ahead with your photography studio proposal in an already competitive market, it is best to establish yourself as someone who offers something unique.

It might be how you post-process your images, or you can throw in a pre-wedding shoot as a free component of the wedding photography package.

Determining your position in the market and what you are offering that's not already out there is a critical element of business success. Sure, competition will catch up to you once they realize that you're offering something unique and nobody else is doing it, but you will have the first starter's advantage.

We can cite the example of a pet photographer, somebody who specializes in photographing stunning images of pets. Pet photography is something that not many photographers prefer to do.

It's a lot of work, and you must be great with pets. It would also help if you had oodles of patience because these furry friends have no regard for your priorities.

But if you're good with pets and genuinely love them, it could be an excellent opportunity to start a business that solely caters to pet photography.

Once you have the essential elements of your business in place, like a business name, logo, website, and business cards, you need to implement a marketing strategy to get your name out there.

Most beginner photography entrepreneurs feel that the best way to succeed is to shoot great photos. They think that the business management part comes second.

It's actually the other way around. All successful photographers who have established a successful business are good at business management. This is why it is not always the most talented photographers who taste business success but those who are good at managing their business.

Marketing is one of those essential aspects which differentiates successful businesses from unsuccessful ones. Marketing can bring new clients on autopilot and help you improve the flow of revenue.

There are different channels of marketing. In the modern age, the Internet and social media are the most effective tools to get news about your business.

Another great way of doing marketing is to offer discounts and freebies occasionally. We are not great fans of undercutting your prices. It is always a vicious cycle, and it isn't easy to get out of it once you get in. You can cleverly position your discounts, so it doesn't feel like you are undercutting your prices.

Let's say that you are a wedding photographer. June, August, and October are your most active months as a wedding photographer. You can position a marketing message offering a discount for all wedding packages that are brought for July and September.

That way, you not only fill your bookings for the months when you are less busy but also get your word out there. At the same time, you can run another package that targets weddings between November and May and offer a complimentary pre-wedding shoot for all packages bought for those months.

This way, you are not undercutting your prices, giving yourself the maximum chance of filling your booking calendar plus the additional benefits.

“ A business plan helps you focus on the aspects of business that require the most work ”

Business automation can help you do more with limited resources and manpower. The more you use business automation software, the more efficient you become as a business owner and the more you can get done in a day.

As a beginner entrepreneur trying to establish a photography studio, there is a lot that you need to do before your studio starts to see some revenue coming in.

At this nascent stage, you may not be able to hire people. Your overall budget may be too small to pay the salaries of dedicated employees. This is where business automation software like Vev comes into the picture.

Vev is free appointment scheduling software for photography studios that helps you accept bookings and appointments seamlessly without any input from your side.

You could be busy with another project working with another client, asleep, or on vacation. Vev will show your availability calendar and let the client choose the dates they prefer based on your availability. You automatically get an e-mail when a booking is made.

The best thing is the system works 24/7, and you don't need a computer to access it. You can use your phone on the go anywhere you are to access your bookings and get back to your clients.

A business plan helps you focus on the aspects of business that require the most work. A business plan enables you to identify the areas that are your strengths and identify weaknesses, opportunities, and threats.

Without a business plan, it becomes very difficult for a business entrepreneur to put his finger on the areas that require his attention.

A business entrepreneur has many things in his head. With a limited amount of time, he has to prioritize the aspects that require immediate attention.

But the benefits of a business plan transcend all that. It's the outline that determines the position of the business in a competitive market, how the business will operate, where the revenue will come from, and identify potential clients.

Write one today, and then install Vev' free online appointment scheduling software next. Thank us for it later.

Can a business entrepreneur do a business plan on his own?

A business plan is a professional document prepared by experts with domain knowledge and years of experience formulating business plans. Professional hands are necessary to make these.

What information you require in order to formulate a business plan?

For a photography business plan you require a good understanding of the market, the various kinds of costs associated with the business, the target clients, and how to generate revenue.

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Photography Business Plan Template

Written by Dave Lavinsky

Over the past 20+ years, we have helped over 10,000 entrepreneurs and business owners create business plans to start and grow their photography businesses. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a photography business plan template step-by-step so you can create your plan today. It can be used to create a photography studio business plan, or a commercial photography business plan or a plan for any other type of photography business.

Download our Ultimate Photography Business Plan Template here >

What Is a Business Plan?

A business plan provides a snapshot of your photography business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan

Source of Funding for Photography Businesses

With regards to funding, the main sources of funding for a photography business are personal savings, credit cards, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.

The second most common form of funding for a photography business is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding, or, like a bank, they will give you a loan.

Finish Your Business Plan Today!

Below are the 10 sections of an example photography business plan:

Executive Summary

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of photography business you are operating and the status; for example, are you a startup or do you have a photography business that you would like to grow.

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the photography industry. Discuss the type of photography business you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.

Company Analysis

In your company analysis, you will detail the type of photography business you are operating.

For example, you might operate one of the following types:

• Portrait photography : this type of photography business photographs people ranging from models to famous personalities on red carpets or at magazine shoots to graduation pictures, family portraits, and professional headshots for business people, aspiring models and actors.
• Product photography : this type of photography business typically requires both artistic and technical expertise to adequately showcase consumer products.
• Wedding and event photography : this type of photography business usually involves photographing everything from posed portraits to people and their candid moments to the venue and the food at weddings and other events.
• Commercial photography : this type of photography business creates images for commercial purposes, such as advertising, marketing or instructional brochures or publications.

In addition to explaining the type of photography business you operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to question such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include sales goals you’ve reached, prestigious clients, etc.
• Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

While this may seem unnecessary, it serves multiple purposes.

First, researching the photography industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your strategy particularly if your research identifies market trends. For example, if there was a trend towards documentary-style event photography, it would be helpful to ensure your plan calls for instant cameras for guest contributions, or a drone, etc.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your photographer business plan:

• How big is the photography business (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential market for your photography business. You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your photographer business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: celebrities, expectant and/or new moms, engaged couples, schools, online retailers, etc.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of photography business you operate. Clearly schools would want different backdrops, pricing and product options, and would respond to different marketing promotions than engaged couples.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve. Because most photography businesses primarily serve customers living in their same city or town, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.

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Competitive Analysis

Direct competitors are other photography businesses.

Indirect competitors are other options that customers have to purchase from you that aren’t direct competitors. This includes amateur photographers and DIY-ers with smartphones. You need to mention such competition to show you understand that not everyone who needs photography uses a professional photographer.

With regards to direct competition, you want to detail the other photography businesses with which you compete. Most likely, your direct competitors will be photography businesses offering similar services in a nearby location.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

• What types of customers do they serve?
• What services do they offer?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide superior photography services?
• Will you provide products or services that your competitors don’t offer?
• Will you make it easier or faster for customers to book your services?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a photography business plan, your marketing plan should include the following:

Product : in the product section you should reiterate the type of photography business that you documented in your Company Analysis. Then, detail the specific products and services you will be offering. For example, in addition to portraits, will you offer a documentary video of the shoot?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the menu services and packages you offer and their prices.

Place : Place refers to the location of your photography business. Document your location and mention how the location will impact your success. For example, is your photography studio located next to a high-traffic retail development, or inside a mall, etc. Discuss how your location might provide a steady stream of customers.

Promotions : the final part of your photography business marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:

• Making your photography studio’s storefront (if applicable) extra appealing to attract passing customers
• Advertising in local papers and magazines
• Social media marketing
• Reaching out to local bloggers and websites
• Partnerships with local organizations (e.g., package discount when booked through partner wedding planner)
• Local radio advertising
• Banner ads at local venues

Operations Plan

Everyday short-term processes include all of the tasks involved in running your photography business such as serving customers, procuring supplies, scouting new photoshoot locations, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to serve your 100th customer, or when you hope to reach $X in sales. It could also be when you expect to hire your Xth employee or launch a new location.

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Management Team

To demonstrate your photography business’s ability to succeed as a business, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally you and/or your team members have direct experience in the photography business. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.

Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you serve 10 customers per month or 50? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets : While balance sheets include much information, to simplify them to the key items you need to know about, balance sheets show your assets and liabilities. For instance, if you spend $100,000 on building out your photography business, that will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $100.000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt. For example, let’s say a company approached you with a massive $100,000 product photography contract, that would cost you $50,000 to fulfill. Well, in most cases, you would have to pay that $50,000 now for supplies, equipment rentals, employee salaries, etc. But let’s say the company didn’t pay you for 180 days. During that 180 day period, you could run out of money.

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a photography business:

• Location build-out including design fees, construction, etc.
• Cost of equipment like cameras, lights, film, backdrops and props, software, etc.
• Cost of ingredients and maintaining an adequate amount of supplies
• Payroll or salaries paid to staff
• Business insurance
• Taxes and permits
• Legal expenses

Photography Business Plan Summary

Putting together a business plan for your photography business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the photography business, your competition and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful photography business.

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How to Start a Photography Business in 2024

Want to learn how to start a photography business in 2024? This in-depth guide will teach you all you need to know to become a professional photographer!

Learn | Photography Guides | By Mark Condon

Want to learn how to start a photography business in 2024? This in-depth guide will teach you all you need to know!

I’ve run a wedding photography business since 2014 and learnt a lot as a professional photographer and business owner.

Starting a photography business allows you to make money using a skill you already enjoy, but it’s important to have a solid plan and realistic goals.

There’s no doubt that photography is a great career – you can earn a good living, make your own hours and travel to exotic places.

Best of all, you’ll make people happy. Whether you’re capturing priceless moments for families or nailing the client’s brief, photos are a precious commodity.

Is photography a good career? Definitely! It was one of the best decisions I ever made.

Now it’s your turn to learn how to start a photography business.

Table of Contents

How do I Start a Small Photography Business?

Reduce risks with a home-based photography business.

Not many professional photographers go from zero to renting a studio – most start off with a home-based photography business, where costs can be kept to a minimum.

As a small business owner, keeping costs low should be a priority, and running your photography business from home is highly recommended.

At this stage when you don’t even have a business plan, all you need is a place in your home from which to work – some private ‘office space’. If you’re using a laptop, you don’t even need a desk!

If you need to meet clients to book work (e.g. for wedding photography), you can do as I did and meet them in a local cafe – clients don’t expect to come to your home, even if you list your home address as your business address.

Decide what types of photography services you’ll offer

Credit: Szabo Viktor

What type of photography is most profitable? You can build a successful photography business by shooting commercial/advertising, event (weddings, corporate, etc), family (maternity, etc), freelance or stock photography.

However, it’s much harder to start earning money as a commercial photographer than, say, as an event photographer.

Also, while stock photography is a good passive source of income , freelance photography allows you to cast a wider net.

When starting your own photography business, it’s important to balance your passion for a specific genre with realistic goals.

Consider whether there’s a market for a particular type of photography in your area, for example.

I chose to focus on wedding photography since there’s a big market for wedding photographers where I live. I also thought shooting weddings would be fun and exciting, and I could also offer mini sessions , pre-wedding shoots and other related services.

You may want to offer several photography services under one unique photography business name , but I recommend focusing on just one genre to become a ‘specialist’.

You need to be the go-to photographer for a certain genre of photography – not the person who shoots everything since this can appear a little amateurish.

That said, there’s always the option to become a professional freelance photographer to offer a selection of different services.

Develop a basic photography business plan

Credit: Galymzhan Abdugalimov

Perhaps one of the most challenging aspects of creating a photography business is to know how to actually start.

A photography business plan is the first logical step to setting up a strong base camp that will allow you to build up your business without feeling overwhelmed.

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What goes into your plan may vary, but at a minimum, you may want to include:

• Executive summary: You can start your photography business plan with an executive summary that defines what your general objectives are as well as your key factors of success.
• Company overview: Do an outline of the organizational structure of your business according to the terms of the area you are in. Will you be the sole proprietor? Will it be a limited liability company? What will be the business structure? Do you need business licenses? Will you have a business partner? What type of business will you run?
• Products & services overview: It’s important to create a detailed description of the products, services and prices you’ll be offering. This will help you to better navigate the many different client requests that might show up.
• Audience analysis: Understand who your target audience is and what channels will be most effective to reach them.
• Competitive analysis (market research): Have a look at the competition operating in your market locally, identify their strengths and in what ways you can differentiate yourself from them.
• Operations plan: Think about operations – what are the day-to-day logistics of running your photography business?
• Financial analysis: Make an effort to be financially savvy – this is very important! Create a financial plan to be in full control of all the nuances of your business cash flow. It’s likewise helpful to establish early on what your equipment requirements are and how much profit you expect to make.
• Timeline: Establish a timeline with clear milestones so you can track your progress and set goals that are increasingly more realistic and adapted to your situation. Think of it as a photography business roadmap to get you to where you want to be.

I should mention that it’s not worth getting too hung up on having every aspect of your photography business planned out in detail.

There are bits you simply won’t know yet and that’s OK! Do your best with it and don’t let writing a business plan become a block that prevents you from moving forward.

Once you have a basic business plan on paper, it’s time to get into the fun part – bringing it to life!

Find the Right Photography Business Structure

One boring-but-important topic when researching how to start a photography business is the subject of business structure.

In the USA, there are 6 main business types of legal structure to consider for your business: sole proprietorship, general partnership, limited partnership, Limited Liability Company (LLC), S Corp. and C Corp.

Sole proprietorships or sole traders are most common for small home-based businesses. They’re the easiest to manage and easiest to handle in terms of taxes since it’s usually just you involved in the running of everything.

You may also consider going into a photography business with a partner, which is actually similar to a sole proprietorship in terms of liability and taxes.

Each person is responsible for their own side of the business and all profits are split based on the percentages you decide. Of course, you also need to consider that all expenses and liabilities are also split between both partners.

If you want to protect your personal assets, many photography businesses opt for an LLC structure (Limited Liability Company). An LLC or S Corp provides one level of tax and also a layer of protection from personal liability.

At this point, it’s worth mentioning that deciding on a business structure should usually involve some legal advice, or at least, a lot of research on your part to decide what’s most relevant for you.

A quick note on business licenses – in most jurisdictions in the United States, no professional license is needed to run or operate a photography business. However, not all States are the same.

To know for sure whether your locality requires you to get a business license for photography, it’s best to call your local licensing board or city hall.

In addition to a business license, you should also start researching whether you need to use photography contracts or model releases for your line of work.

Putting in the groundwork now will set you up for success without any legal headaches.

Choose a photography business name & branding

Credit: Brad Neathery

Once you’ve decided what your speciality will be and the structure of your business, it’s time to think about your photography business name and branding.

This is what will differentiate you from the competition. It’s also important because of first impressions: when people see your branding, it can instantly give them an idea of what you do and what your style is.

With that in mind, consider the look and feel of your logo and typeface. Is it something quirky and creative, clean and modern, vintage classic…?

As for names, you might choose to name your photography business after yourself (e.g. “Bob Smith Photography”) or you could get creative and have it reflect what you do (e.g. “Maternal Memoirs” for maternity photography, or “Bedroom Eyes” for boudoir – I’m just making these up on the spot here but you get the idea!).

Don’t neglect to choose a unique or catchy slogan or tagline for your photography business .

The most important thing with branding is to be consistent. That bears repeating, so I’ll say it again: Consistency is key!

You want your brand message to be reflected across your website, business cards, social media accounts , and all materials you deliver to clients including final photo packages, invoices, etc.

• What is branding for photographers?

Register a domain and create a photography website

It goes without saying that pretty much all successful photographers in 2024 have an online presence. That’s why the next step in starting a photography business is to create a photography website .

Your website should showcase your best work and give people an idea of who you are and how you work.

While there are plenty of free web hosting solutions out there, it’s worth investing a small amount to register your own domain name.

This not only looks more professional, but it’ll also help you rank in Google searches (just ensure your domain name reflects your business name).

From there, you’ll need to build your photography business website and connect your domain name to it.

Now, if your web design skills are non-existent, don’t worry: there are plenty of solutions out there that can make life ridiculously easy.

One of the best options is to use a content management system (CMS) like Wordpress – you can download elegant-looking, customisable themes (for example, Flothemes make some great ones) so the design and layout aspects are all there for you.

With a few clicks of the mouse, you can adapt a pre-made template to include your own branding and start getting your website out to potential clients.

Invest in professional photography equipment & software

At this point, you’re probably wondering: What kind of camera do most professional photographers use?

While there’s no one correct answer as to what is a ‘professional camera’, by and large, most pros use full-frame DSLR or mirrorless cameras.

However, some do absolutely fine by using APS-C sensor cameras, particularly if high ISO low-light performance isn’t required. (Full-frame sensor cameras are better at this, among other things.)

DSLRs are still an industry standard, but are somewhat of a dying breed – mirrorless cameras offer better features and more recent technology, although the number of native lenses still dwindles in comparison to those on offer for DSLRs.

You can see more of the differences between mirrorless and DSLRs here , but suffice to say, you won’t go wrong with either.

As for the question, what camera should I buy to start a photography business? Initially, it’s whatever you can afford, but once you start making a better income, you should always upgrade your equipment in line with what you need to complete your job efficiently.

For example, wedding photographers need cameras with excellent autofocus and high ISO capabilities, whereas a portrait photographer may not need either of these things.

There’s always the option of renting equipment when you first start out – get yourself a good all-round camera, then if any job comes around that’s out of its comfort range, hire something to suit.

The same goes for camera lenses, of which there are a plethora of options . Again, depending on the type of photography services you’ll offer, you can choose between a wide range of telephoto and primes at various price points.

Most pros can get by with an affordable and fast 50mm lens (nifty-fifty), so you can start your lens collection from there. Remember that buying used camera lenses is also a great option.

As for software, this is another area you’ll need to invest in in order to grow your own photography business.

Many photography business owners start out bare-bones with a mixture of Google Sheets for keeping track of expenses and clients’ information and Google Calendar. You’ll soon outgrow these, through.

When you start making money, you’ll also need some kind of accounting software to keep track of all the figures.

It’s wise to pay for premium photographer software early on as it can really help save you time and headaches in the long run.

At a bare minimum, you’ll need photo editing software (we recommend Adobe Lightroom ), client/studio management software , and an online gallery to deliver your photos to your clients.

You can also consider an all-in-one business management tool such as  Bonsai  to help you manage your photography projects more efficiently. They offer features like invoicing, proposals, contracts, time & task tracking, client CRM and more.

All features are integrated to work seamlessly together and you can automate the entire customer relationship journey – from the proposal, and e-signing contracts to invoicing and tax season. On top of that, Bonsai offers hundreds of free templates for proposals, contracts, invoices, and more.

If you’re not shooting high volumes, you can get by with a photo editing software that doesn’t lock you into a subscription, as Adobe Lightroom does – fortunately, there are several great alternatives .

If you’re wondering how to start a photography business with no money, it may well be tough due to the requirements to invest in all the things mentioned above.

If you have good friends or family, perhaps they can lend you the gear until you’ve done enough jobs to earn the money to buy or rent your own.

It’s also possible to find free software that helps to manage your own business, albeit with some limitations.

Take out photography business insurance

We can’t talk about how to start a photography business without covering some more of the boring-but-important stuff, like… insurance!

Yep, it’s not the most fun thing to have to research and organise, but trust me – if something goes wrong, you’ll be glad you took out insurance.

There are various types of insurance your photography business might need, depending on what kind of work you do.

First and most obvious is your precious equipment. Some insurers offer specific camera insurance or photography plans designed to cover gear and studio fittings.

Note that while your regular home contents insurance may cover loss or damage to your gear, it will only be applicable if the damage occurs at home and not while you’re shooting on location. That’s why it’s worth looking into some specific cover.

On top of that, consider taking out some public liability insurance.

Despite our best efforts, sometimes things go wrong while we’re out shooting. Let’s say you’re photographing a wedding and a guest trips over your tripod, breaking their leg and taking out the entire wedding cake in the process – liability insurance will cover the damages.

If you plan on hiring any extra staff, you’ll also want to look at taking out employers’ liability insurance. This is to cover you if an employee gets sick or injured on the job.

Lastly, some photographers choose to take out professional indemnity insurance as well.

Imagine a client accuses you of some negligence and claims they lost some income due to your actions.

(For example, if you photographed a corporate event but lost your memory cards and couldn’t deliver the images. Indemnity insurance would cover any legal and other costs.)

Insurance needs vary depending on where you are in the world and what your business model is, so take this as a rough guide and do speak to your insurer about what plans are best suited to your needs.

Learn how to market your photography business

On to the next step of learning how to start a photography business: I bet you’re keen to start raking in the customers (and the cash!).

If you’re asking, “How do I get clients for my photography fast?” , the answer is  marketing. 

Unlike advertising, marketing can be done for free (or very cheaply), but it takes a little work.

One marketing strategy you can use is to network with other photographers. But wait, you say, aren’t they the competition? Not necessarily!

Another photographer might get a request for a job that doesn’t fit their style or speciality, but does fit yours – and they can refer the client on to you. These referrals are a great way to generate business, so make sure you nurture your relationships with other photographers.

Meeting other photographers is also a great way to learn. You can find out how they generate new business and meet prospective clients, and learn about which marketing strategies work best for them.

You can easily network with other photographers online through photography groups, or in person at your local photography club .

Marketing via social media is obviously another big one. It’s worth using platforms like Instagram to showcase your photography work and interact with your target audience.

To succeed on Instagram in 2024, you need to be creating entertaining Instagram Stories and posting fresh content regularly, as well as interacting with your followers and other accounts.

Online marketing for photographers is a huge topic, but at a bare minimum, make sure you learn the basics of SEO , how to write interesting blog content and how to attract new business via Facebook ads.

(If you want to become a wedding photographer, check out More Brides where I reveal all the marketing secrets that helped me quickly grow my business.)

Once you do get a few clients, make it as easy as possible for them to recommend you. Word of mouth referrals are one of the best ways to net in new clients, and that’s true of any type of business!

If your clients are happy with your work, ask them to leave you positive reviews online, tag you on social media, and recommend you to their friends.

Also, create an email mailing list where you can keep existing and potential clients up to date with your work and aware of any special offers you might be running. Remember to ask for permission and give people an option to opt-out or unsubscribe.

Let’s not forget that nondigital marketing methods also exist. Don’t underestimate the power of business cards,  flyers and other physical marketing materials for distributing around your neighbourhood or pinning to the local notice board.

For example, if you’re a food photographer you might drop round to local restaurants and hand them a brochure or card.

Or if you want to get a foot in the door as a real estate photographer, you might do a letterbox drop to all your local estate agents.

Whether online or offline, find out where your target market hangs out and go there to introduce yourself.

Invest in photography business education

When you’re just learning how to start a photography business, it’s important to grasp the basics. Then, as your business grows, your knowledge of how to run it has to expand as well.

That’s where it can be worth investing in your photography business education. By investing, I’m talking about time as well as money.

In fact, sometimes time is all you need to invest thanks to the copious amounts of free resources online.

Some areas you might choose to study, whether via a free or paid course or workshop:

• Understanding the full commercial photography workflow, from client briefs through to delivering the final product.
• Pricing structures and how to charge for your services.
• Business administration includes registering your business, filing taxes, etc.
• Best practices for dealing with clients.
• How to market and grow your business.

Your best bet is to determine where your knowledge gaps are, then start looking for ways to fill them.

And, of course, you should continue your photography education as well.

The best professional photographers are those who are always open to learning new things and developing their skills in every aspect of the art, whether it’s compositional techniques, lighting, post-processing and retouching, or something else.

Fortunately, a lot of free photography courses are available right here on Shotkit!

Start thinking about passive income for photographers

Passive income is basically regular earnings that take little-to-no regular effort to maintain. In other words, you set up the income source and money kinda just rolls in while you sleep. Pretty sweet, huh?

So, how do photographers make passive income?

The most obvious is through stock photography. With stock photography sites , you can upload images and get a commission every time someone downloads one (normally, they’re used for commercial or editorial purposes).

The reality of the stock photography world is that thanks to digital photography, it’s highly saturated. So be aware that it takes some dedication and a high volume of photos to make a decent passive income.

That’s not to say it can’t be worth it – just that you should approach it realistically.

There are other potential passive income streams. You can sell digital products such as Lightroom presets or online courses and ebooks.

Or, you could use a print-on-demand service to offer products printed with your photographs .

If you write a photography blog, perhaps you want to start writing reviews of camera gear and link to sites like Amazon and B&HPhoto to earn a commission as an affiliate.

There are also platforms like Patreon that allow you to charge for content that you provide to your followers.

Think outside the box and see what passive income ideas you can come up with – it’s an excellent way to grow your revenue and ensure you have some income even in times of seasonal fluctuations.

Money and Photography Business FAQs

When researching how to start a photography business, you’ll likely have a ton of questions regarding money – how much it costs to start and run the photography business and how much you can expect to earn as a professional photographer .

We’ve answered all the most common queries below – feel free to leave a comment if you want to ask something specific.

• How much money does it take to start a photography business?

It depends on what you’re shooting and how much equipment you need, but a good starting point is around US$10,000. That’s to cover basic camera gear, software, insurance and business registration fees.

• How can I start a photography business with no money?

If you already have some basic camera gear and an internet connection, then you can start a photography business by simply getting out and shooting! Find clients using free marketing strategies and build up from there, reinvesting your earnings until you can buy adequate insurance, better gear, etc.

• How much money do professional photographers make?

According to ZipRecruiter.com, the average photographer salary in the US is $43,114. However, photographer salaries vary greatly depending on country/location, experience level, education level and genre.

• How much money does a photographer make per hour, a week, a month?

Careerexplorer.com states that the average wage for a photographer in the US is around $18.22 per hour; however, that figure ranges from as low as $10.36 per hour for someone starting out to $32.04 or more for an experienced shooter. ZipRecruiter pegs the monthly average salary at $3,592. Again, location is another big factor in how much you can expect to earn.

• How much should I charge as a beginner photographer?

For a beginner, you’re probably looking at an hourly rate of US$25-$50 (or equivalent in your currency), or between $10 and $25 per image. Think about the time and expenses of the work for you and factor that into what you charge.

Final Words

I hope you found this guide to how to start a photography business useful. Moreover, I hope it genuinely inspired you to get out there and do it!

As I’ve found, starting your own photography business and being your own boss is incredibly rewarding. Yes, there are some challenges ahead, but I assure you, there’s nothing that you can’t overcome with a little perseverance!

So what do you think? Are you ready to take the leap?

If you have any other questions about how to start a photography business, please leave them below and I’ll do my best to answer.

Also, if you have your own tips or want to share your experiences with venturing into the business world, do add them as well – simply leave a comment below.

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Mark Condon is a British wedding photographer and editor of Shotkit. When he’s not taking photos or reviewing the latest camera gear and software, Mark can be found cycling around the northern rivers.

As Jon Morgan, CEO of Venturesmarter.com, I couldn’t help but dive into this article on starting a photography business. With my extensive experience in helping startups and small businesses scale, I love exploring different entrepreneurial pursuits. Who knows, maybe I’ll start a photography business myself and capture all my consulting successes! This article provides a fantastic roadmap for budding photographers ready to take on the world, one click at a time. Keep up the great work, Shotkit!

I still don’t know where to go now. I have shot a few wedding films and have some engagement photos scheduled. Website is still a work in progress (cringe rn). Still, the business is actually there and working but i’m not a business as far as the government is concerned, you know? If I buy a new piece of gear, i can’t write that off as of now and get a tax break on the money I make. I’d like to get a body with 10 bit video and dual card slots for redundancy but would love to capture some of that as a business expense to soften the blow. Plus being licensed probably looks less armature to clients. I need to know where to go to actually like, fill out a form so that when tax season comes I can fill out a 1099. Any direction would be appreciated :)

Love these tips Mark. One thing that really accelerated my career was having a Mentor too! I use https://www.lisnic.com to connect with mine now, mentoring is honestly the way to go.

Thanks Taylor – are you associated with Lisnic? Looks interesting…

Thanks for this great article. Coincidentally my brother just wanted to start a photography business.

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Photography Business Plan Template

Written by Dave Lavinsky

Photography Business Plan Outline

• Photography Business Plan Home
• 1. Executive Summary
• 2. Company Overview
• 3. Industry Analysis
• 4. Customer Analysis
• 5. Competitive Analysis
• 6. Marketing Plan
• 7. Operations Plan
• 8. Management Team
• 9. Financial Plan

Start Your Photography Plan Here

Photography Business Plan

You’ve come to the right place to create your Photography business plan.

We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Photography business.

Below are links to each section of a sample photography business plan. It can be used to create a wedding photography business plan, a commercial photography business plan, a portrait photography studio business plan or any other type of photography business plan.

1. Executive Summary 2. Company Overview 3. Industry Analysis 4. Customer Analysis 5. Competitive Analysis 6. Marketing Plan 7. Operations Plan 8. Management Team 9. Financial Plan

Next Section: Executive Summary >

Photography Business Plan FAQs

What is a photography business plan.

A photography business plan is a plan to start and/or grow your photography business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can  easily complete your photography business plan using our Photography Business Plan Template here .

What Are the Main Types of Photography Businesses?

There are many types of photography businesses depending on the style of photography and target market. The most common and profitable type is event photography. Other types are stock photography, family/baby photography, travel, school, photojournalism and social media photography.

No matter what type of photography business you plan to start, you need a solid photography business plan. You can quickly complete your photography business plan using our Photography Business Plan Template here .

What Are the Main Sources of Revenues and Expenses for a Photography Business?

The primary source of revenue for photography businesses are service fees for photoshoots and video, licensing fees and photo editing. Other revenues are also generated from product sales like prints, albums, cards, wall prints and canvas.

The key expenses for photography businesses are equipment expense, advertising, transportation, and labor or professional fees.

How Do You Get Funding for Your Photography Studio Business Plan?

Photography businesses are typically funded through small business loans, personal savings and credit card financing.

This is true for a wedding photographer, pet photography business, commercial photography business, a portrait photography business or any other type of photography services.

Download your plan in word or PDF to share with investors.

What are the Steps To Start a Photography Business?

Starting a photography business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Photography Business Plan - The first step in starting a business is to create a detailed business plan for a photography business that outlines all aspects of the venture. This should include potential market size and target customers, data on the photography industry, the services or products you will offer, pricing strategies and a detailed financial forecast.  You can quickly complete your photography business plan using our Photography Business Plan Template here .

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your photography business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your photography business is in compliance with local laws.

3. Register Your Photography Business - Once you have chosen a legal structure, the next step is to register your photography business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 

4. Identify Financing Options - It’s likely that you’ll need some capital to start your photography business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 

7. Acquire Necessary Photography Equipment & Supplies - In order to start your photography business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your photography business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful photography business and photography business planning:

• How to Start a Photography Business

Where Can I Get a Photography Business Plan PDF?

You can download our free photography business plan template PDF here . This is a sample photography business plan template you can use in PDF format.

Small Business Trends

How to start a photography business.

Starting a photography business presents a compelling opportunity for a creative entrepreneur. It offers a unique blend of artistic expression and financial potential, allowing you to turn a passion into a profitable venture. The demand for high-quality photography services is growing steadily in a world increasingly driven by visual content. This guide will walk you through how to start a photography business so you can make the most of this exciting opportunity.

Why Start a Photography Business?

The allure of a photography business lies not only in its artistic potential but also in its financial prospects.

According to the U.S. Bureau of Labor Statistics, the median annual wage for photographers was approximately $40,170 in 2022. Beyond the numbers, a photography business allows for the freedom to capture life’s moments in a way that resonates with personal artistic vision.

Renowned photographers like Annie Leibovitz and Dorothea Lange have shown that photography can be both a fulfilling and lucrative career.

Landscape of Professional Photographers Today

The professional photography industry today is markedly different from what it was just a decade ago, largely due to rapid technological advancements.

High-quality cameras, once the exclusive domain of professionals have become increasingly accessible to amateurs and enthusiasts alike. Editing software, likewise, has evolved to become more user-friendly, democratizing the art of photography and allowing more people to produce high-quality images.

Moreover, the industry has seen a surge in demand for specialized photography services that go beyond traditional portraits and event photography. Drone photography, for example, has gained significant traction, especially in sectors like real estate and environmental studies.

Meanwhile, 360-degree virtual tours are becoming indispensable in multiple industries, from hospitality to retail, offering photographers new avenues for professional growth and specialization.

These developments have expanded the scope of services that photographers can offer and raised the bar for what clients expect. There are still plenty of opportunities for those looking to learn how to make money with photography .

Different Niches in Photography Business

The possibilities for photography specialization are vast, allowing for a wide range of services that cater to diverse consumer needs.

From capturing life’s significant moments to documenting commercial products, the field offers multiple creative and financial fulfillment avenues.

Portrait Photography

Portrait photography focuses on capturing the essence of individuals or groups. Portrait photographers often work in studios but can also offer on-location services for events like graduations or corporate gatherings.

Wedding Photography

Specializing in capturing one of life’s most significant moments, a wedding photographer is often in high demand. A wedding photography business can be particularly lucrative, with some photographers charging thousands of dollars for a single event.

Commercial Photography

Photographers work closely with businesses in the commercial photography niche to create images for advertising, branding, and product catalogs. The scope can range from product shots to architectural photography.

Nature and Travel Photography

For those who love the outdoors, nature and travel photography offer the chance to capture the beauty of various landscapes and cultures. The niche often involves travel and can be a good fit for photographers who enjoy adventure.

Food Photography

Food photography has gained significant attention with the rise of social media and food blogs. The niche involves capturing enticing images of food and beverages, often for restaurants, food brands, or publications.

How Much Does it Cost to Start a Photography Business?

Starting a photography business can be exhilarating, but it’s crucial to be aware of the financial aspects. From essential photography supplies to marketing and legalities, the costs can accumulate. Before starting a photography business, be sure to consider the following key startup costs:

• Camera Equipment : High-quality cameras and lenses are indispensable. Prices for professional cameras can range from as little as $500 to $5,000 or more. Additional accessories, like the best studio lights for photography , may also be necessary.
• Editing Software : Post-production work requires reliable software. Adobe Photoshop or Lightroom subscriptions can cost between $20 and $60 per month.
• Studio Space : If your business model necessitates a studio, be prepared for rental costs. These can vary greatly depending on location and size.
• Marketing and Branding : A professional website, business cards, and social media advertising are essential for attracting clients. If you want to pay a professional web designer to build your website, budget at least $3,000 , if not more. Or you can use any of a plethora of website builders for $50 a month or less.
• Business Licenses and Insurance : Operating legally requires business licenses and insurance , which can add to your initial costs. The costs to register and license a photography business generally range from $150 to $700. Meanwhile, the cost of basic business insurance ranges from $200 to $500 annually.

Steps to Starting Your Own Photography Business

Embarking on the entrepreneurial journey of establishing a photography business involves meticulous planning and execution. The following steps provide a comprehensive guide to help you navigate this exciting venture.

Write a Photography Business Plan

A well-crafted business plan serves as the blueprint for your photography business. It outlines your business goals, target market, competition analysis, financial projections, and marketing strategies.

A robust plan guides your business and becomes crucial when seeking financing or partnerships.

Get a Business License

Securing a business license is a legal requirement for operating a photography business.

The process varies by jurisdiction but generally involves submitting an application, paying a fee, and sometimes undergoing an inspection. Ensure you adhere to all local, state, and federal regulations. There may also be regulations for choosing and registering photography business names in your area.

Open a Business Bank Account

Separating personal and business finances is essential for effective accounting and tax preparation.

Opening a business bank account provides a centralized place for all business transactions, making financial management more straightforward.

Craft a Portfolio

A portfolio showcases your skills and is often the first point of contact between you and potential clients.

Include a variety of work to demonstrate your range and expertise. Digital portfolios have become increasingly popular, but having a physical portfolio can also be beneficial.

Determine Business Structure and Legal Requirements

Choosing the right business structure, such as a sole proprietorship, partnership, or LLC, impacts your taxes, liability, and other legal aspects. Consult a legal advisor to determine the most suitable structure for your business.

Set Your Pricing

Determining pricing can be a complex task. Consider factors such as equipment cost, time, skill level, and market rates. Transparent pricing structures can help build trust with clients.

Network and Forge Industry Partnerships

Building relationships within the industry can provide valuable opportunities and referrals. Attend industry events, join photography organizations, and collaborate with related businesses to expand your network.

The Importance of Online Presence for Photographers

An online presence is more than just a luxury; it’s a necessity for photographers aiming to succeed in a competitive market.

A well-designed website, active social media profiles, and other digital assets enhance your visibility and serve as platforms where you can showcase your skills and interact with potential clients.

The importance of a strong online presence can be broken down into several key points:

• Portfolio Display : A personal website offers a centralized place to showcase your best work, making it easier for clients to view your portfolio and gauge your skills.
• Client Engagement : Social media platforms like Instagram and Facebook allow you to engage with your audience, respond to inquiries, and even showcase behind-the-scenes content that can humanize your brand.
• SEO Benefits : A well-optimized website can rank higher in search engine results, making it easier for potential clients to find your services when they search for photographers in your area.
• Online Booking : Integrating an online booking system into your website can streamline the appointment process, making it convenient for clients to schedule sessions without back-and-forth communication.
• Testimonials and Reviews : Digital platforms provide a space for satisfied clients to leave reviews and testimonials, which can serve as powerful word-of-mouth marketing for your business

Essential Equipment for a Professional Photographer

For aspiring photographers, investing in the right equipment is not just a preliminary step; it’s a commitment to quality and professionalism.

The equipment you choose will depend on your specific niche, but certain tools are universally beneficial for anyone serious about photography.

DSLRs and Mirrorless Cameras

When it comes time to choose DSLRs vs mirrorless cameras, which is better for professional photography? Both Digital Single-Lens Reflex and mirrorless cameras come with their own sets of advantages and disadvantages.

DSLRs generally offer a broader range of lens options and longer battery life. In contrast, mirrorless cameras are more compact and excel in video quality. The choice between the two camera types will hinge on your specific needs and the type of photography you intend to pursue.

Variety of Lenses

The lens you choose can dramatically affect the outcome of your photos. Different lenses serve different purposes: A prime lens is ideal for portrait photography, while a zoom lens offers greater flexibility for capturing varying distances.

A wide-angle lens can be invaluable for landscape photography. Investing in a variety of lenses will diversify your capabilities and improve the quality of your work.

Photo Editing Software

The role of post-production in photography cannot be overstated.

Software for a photography business like Adobe Lightroom or Capture One provides a comprehensive suite of editing tools that allow you to enhance colors, correct exposures, and fine-tune details, making them industry standards for professional photography.

Tripods and Stabilizers

For certain types of photography, such as long-exposure shots or time-lapses, a sturdy tripod or stabilizer is essential. Such tools help in eliminating camera shake, ensuring that your photos are sharp and clear.

External Flashes and Lighting Equipment

Natural light is not always sufficient or ideal for capturing the perfect shot.

External flashes and other lighting equipment like softboxes or LED panels can provide the additional illumination needed to achieve the desired lighting conditions.

Memory Cards and Storage

High-resolution photography generates large files that require ample storage space. High-speed memory cards and reliable external hard drives are essential for safely storing and transferring your work.

Camera Bags and Protective Cases

Protecting your investment is crucial. High-quality camera bags and protective cases make it easier to carry your equipment and provide much-needed protection against physical damage and the elements.

By investing in these essential pieces of equipment, you equip yourself with the tools needed to produce work of professional quality, thereby setting the stage for a successful career in photography.

Marketing Strategies for a Successful Photography Business

Effective marketing is the cornerstone of any successful business.

For photographers, both online and offline strategies can be employed to reach potential clients.

Below are some proven marketing approaches that can help you expand your client base and enhance your brand’s visibility.

Social Media Marketing

Platforms like Instagram and Pinterest offer a visually rich environment that is particularly effective for photographers. By posting regularly and engaging with your audience, you can build a following and, in turn, attract new clients.

Photography Contests

Entering photography contests can be an excellent avenue for gaining exposure and enhancing credibility. Whether you win or participate, the experience can be a valuable addition to your portfolio.

Client Referral Programs

Word-of-mouth marketing remains a potent tool in the photography business. Creating a client referral program that offers incentives for existing clients to refer new ones can be an effective way to generate new business.

Email Marketing

Email marketing offers a direct line of communication to your audience. Regular newsletters featuring your latest work, photography tips, or special promotions can keep your audience engaged and remind them of your services.

Local Partnerships

Forming partnerships with local businesses can be a mutually beneficial arrangement. For instance, a partnership with a local event venue could involve them recommending your photography services to their clients, while you could offer their venue as a suggestion to your clients looking for event spaces.

How to Attract Prospective Clients

Securing your initial clients often proves to be a formidable challenge when starting a photography business.

However, a strategic approach that combines both online and offline methods can significantly ease this process.

Below are some effective steps, each described in detail, to help you attract your first clients and build a strong foundation for your business.

Offer Free Sessions

Offering complimentary sessions can serve as an excellent strategy for building your portfolio.

These free sessions provide you with valuable experience and offer potential clients a risk-free way to gauge your skills.

Leverage Social Media

Social media platforms, particularly visual-centric ones like Instagram, offer a powerful medium to showcase your work.

Regular posting and engagement can help you build a following, which in turn can attract potential clients.

Engage in Networking

Networking remains a cornerstone of business development.

Attend industry-specific events, workshops, and seminars to meet potential clients. Joining photography groups and associations can also provide networking opportunities.

Obtain Client Testimonials

Positive feedback from satisfied clients can be a potent tool for building trust among prospective customers.

Promise these testimonials on your website and social media platforms to enhance your credibility.

Collaborate with Other Businesses

Forming partnerships with related businesses, such as event planners or bridal shops, can provide a steady stream of referrals.

Ensure that the collaboration is mutually beneficial to maintain a long-term relationship.

Offer Limited-Time Promotions

Limited-time offers or discounts can create a sense of urgency among potential clients.

Such promotions can be particularly effective during off-peak seasons to attract business.

Utilize Local Advertising

Don’t underestimate the power of local advertising channels like community bulletin boards, local newspapers, and even community events.

These platforms can help you reach an audience that prefers local service providers.

By implementing these strategies, you can increase your chances of attracting your first clients and laying the groundwork for a successful photography business.

FAQs: How to Start a Photography Business

How do you price photography services.

Pricing in the photography business is a nuanced task that involves a careful analysis of various factors, including the cost of photography equipment , operational expenses, your level of expertise, and the prevailing market rates for similar services.

It’s advisable to research what competitors are charging and to consider your target market’s budget constraints. Offering package deals or tiered pricing can also make your services appealing to a broader clientele.

What are common challenges faced by photography businesses?

Photography businesses often grapple with a range of challenges that extend beyond the artistic aspect of the job. Such challenges include intense market competition, the rapid pace of technological advancements, and the complexities of running a business.

To navigate these challenges successfully, photographers must equip themselves with a diverse skill set that combines artistic talent with business acumen.

Can a photography career be sustainable in the long term?

Sustainability in a photography career is achievable but requires a proactive approach. The industry is ever-evolving, with new technologies and trends emerging regularly.

Photographers must stay updated and be willing to adapt to these changes. Diversifying services, such as by offering specialized types of photography or teaching workshops, can also provide additional revenue streams. Continuous learning and a willingness to adapt are crucial for long-term sustainability.

Is it possible to build a photography portfolio with no experience?

Building a portfolio without prior experience is undoubtedly a challenging endeavor, but it is an important element of learning how to start a business in photography. Aspiring photographers can start by offering free or discounted services to friends, family, or local businesses to gain practical experience.

This not only helps in building a portfolio but also offers an opportunity to receive constructive feedback. A photography business course or online tutorials can further enhance skills and contribute to a more robust portfolio.

Is wedding photography a profitable niche?

The wedding photography niche is often cited as one of the more profitable areas within the photography industry. By learning how to become a wedding photographer , you can charge premium rates, sometimes amounting to thousands of dollars for a single event.

However, this niche also demands a high level of skill, reliability, and the ability to perform under the pressure of capturing once-in-a-lifetime moments. Therefore, while profitable, it requires a significant commitment to excellence.

Image: Envato Elements

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